European Stability Mechanism MD Klaus Regling speaking to El Pais 26 Feb

  • several EU member states voted in favour of Greek programme on the basis that the IMF would participate
  • positions on Greece are growing closer

On Italy:

  • there is no Italian banking crisis, size of the problem limited to a small number of banks
  • EU Commission and Italian govt working on a solution.

No prizes to our regular readers for guessing which picture I'm grabbing to accompany this post.

Sadly that can just keeps on getting kicked. A couple of recent Greek/IMF posts here and here highlighting the stalemate.

Enjoy the rest of your week-end everyone, and thanks as always for your brilliant support. I hope we can continue to help make/save you all a few pips in the week ahead.