Additional comments coming out from German fin min Schaeuble and while he dismisses linking any moving of goal posts to the pact he agrees that Italy and Germany are in line on the need for reforms to boost growth. He says that Renzi is determined to carry out reforms and that Europe lacks the implementation of what has been agreed.

Looks like the Italians and Germany are now cozying up leaving the French and their battle for a lower euro out in the cold.