• Expects Eurozone recovery to come in 2nd half of 2013
• Welcomes and is very satisfied with Eurogroup accord of Nov 27
• Shows Greece will remain in the Euro
• ECB will do what ever it takes to keep euro stable
• Banks are suffering from state of public finances
• Unified supervision must apply to all banks to avoid banking sector fragmentation
• Need to boost labour market flexibility
• France and Italy need to remove rigidity from their labour/product markets
• Losing AAA status sends signals to governments, must be taken seriously