• Italy absolutely not in same situation as Greece
  • Italy has been able to contain public deficit, has shown resistance in difficult period
  • Reiterates Greece bankruptcy is not an issue that is in question (well that’s the wire headline. Could be read wrong way, but I think we know what is meant)

EUR/USD touch easier, presently at 1.3342.

EDIT: NEW AND IMPROVED HEADLINE: Trichet says Greece bankruptcy not in discussion