Hmm, I’ll put a tenner on the “over”.

  • Transfers to regions will be maintained, says budget minister
  • Central government deficit projected at 3.5%, regions, 1.5%, local authorities 0.3% of GDP
  • Revenues projected to increase EUR 12.3 bln

EUR/USD knocked down again by sovereign sales in the 1.3360s. We’re now at 1.3348.