Berlusconi: No pension reform plans or pay cuts for private sector

In an effort to catch up with Greece, Italian president Berlusconi says he has no plans to reform the pension system or cut public sector salaries…

EUR/USD is firm on a late Friday afternoon in Europe, apparently on some pre-weekend short-covering as the Greek drama takes an intermission. Offers reside at 1.3430/40 with heavy stop-loss buy orders up at 1.3465.