Cyprus’s representative to the ECB governing council, Mr. Orphanides (remarkable in that he used to work at the Fed…) is on the wires taking a swipe at ECB executive board member Coeure for suggesting the ECB could restart the bond-buying program.

It’s not right to front-run decisions of the governing council, Orphanides says, according to Bloomberg.

Mr. Market doesn’t really care at the moment, looking solely at the rise in the S&P and jumping on the risk band wagon. Stocks are up 0.7% or 9.2 points. EUR/USD reached 1.3185.