Though when you sell your USDT for euro or whatever on Kraken say, the tether org must step in and buy to keep the price at US$1. So they effectively redem if not directly.
From your example the only thing that happened is that now you hold x euros and Kraken holds x amount of USDT.
Unless Kraken goes to Tether org and asks "hey I got these USDTs, please give me the USD" no redemption has occurred.
That some people can in effect transact USDT for fiat via other mechanisms (like your example above) says nothing about Tether org backing or reserves.
Until you go to Tether org with your USDT's and ask them for USD you won't know if they have the reserves.