Good to know they’re beavering away.

EUR/USD ticking higher in early European trade. Presently at 1.3805. Talk of sell orders clustered 1.3815/25, buy stops above there.

  • Would prefer voluntary private sector participation in Greece
  • Greece to receive next bailout tranche if govt agrees reforms
  • Direct link between EFSF and ECB refinancing “difficult”
  • Calls for ESM to be activated in 2012, not 2013