• Doesn’t expect Cyprus decision before Sept.
  • Says Ministers reached agreement on memorandum of understanding for Spain.
  • Says condition for direct access by banks to ESM bailout fund is implementation of European bank supervisor.
  • Countries remain liable in cases of bank aid.
  • Spain creditor status won’t change between EFSF,ESM.
  • Says EFSF can use its instruments as efficiently and flexibly as possible.
  • Says Spain is on a good track.

Euro still trading at 1.2300