Yet another ECB talking-head up to the rostrum as BOI gov Visco spouts forth

  • EU regulation on state aid is a constraint sometimes
  • there is a need for BCC reform
  • EU state aid regulation is delaying banks' crisis management

Don't worry. Just keep plying them with cheap money to paper over the cracks

  • Italian 2015 GDP may beat expectations and rise around 1%

Meanwhile the euro is still feeling the position-squaring love but off its session highs

EURUSD 1.1059 EURGBP 0.7230 EURJPY 133.05

Visco hoping it all turns out ok in the end