No conclusion, because it looks like Tether has started to print euro-tethers, using the ethereum platform:

https://etherscan.io/token/0xabdf147870235fcfc34153828c769a70b3fae01f?a=0x0000000000000000000000000000000000000000

About 86 million.

And it appears on the following:

https://wallet.tether.to/transparency

They're now showing 86 million euro-tethers.

I bet the European Authorities don't know about this, and once they find out, they too will be cracking down...