Reuters dominates European debt crisis negotiation coverage

Reuters had a truly unbelievable run over the last few days, breaking exclusively every single key development in the debt crisis negotiations.On August 4th, Reuters was well ahead of Dow Jones and Bloomberg with French President Nicolas Sarkozy’s plan to hold emergency talks with German Chancellor Angela Merkel and Spain’s Socialist Prime Minister Zapatero.On August 5th, Reuters European Central Bank team exclusively revealed that four of the central bank’s Governing Council members opposed any revival of its bond-buying program. Later in the day, sources told us that Italy’s Prime Minister Berlusconi was poised to speed up Italian austerity measures in exchange for ECB bond-buying help. Reuters report, after European markets closed, lifted U.S. stocks out of the red, was picked up by Bloomberg and cited extensively on CNBC. Later, Berlusconi announced precisely what we said he would. On August 6th, Reuters kept at it, reporting before all others that the ECB would hold a teleconference on Italy on Sunday, August 7th. And on Sunday, a Reuters correspondent landed a big one from sources – that the ECB had decided to “act decisively in the markets”, code for supporting Italy and Spain. The news was delivered 70 minutes before the official announcement and, again, Bloomberg picked up the Reuters story.