Our Angie on the wires saying that Europe is returning to stable growth and the euro area recovery is bearing first fruits (at the moment the fruit looks like it’s going from ripe to mouldy).

She renews calls for G20 regulation of shadow banks and re-affirms the German goal of ending net new borrowing in 2015.

No doubt she’s airing her views before slipping off to Brazil for the world cup.

Merkel finds out Greece will repay some of its debt