Greek PM Papandreou is on the wires saying Greece is soing what is necessary to deal with the budget crisis and that it is not trying to find scapegoats for its problems.

He says if Europe does not create an instrument to help Greece then the IMG could be an alternative.

He says he hopes there is no speculation when Greece goes to market.

Nothing kills a rally like a fresh dose of Greece. EUR/USD has stalled on the mid 1.3630s.