EUR/USD just off session low of 1.3577, presently at 1.3582.

  • Euro zone ready for determined and coordinated action to help Greece
  • Measures needed to avoid problems in future such as with Greece
  • Urgent for countries with high current account deficits, such as Greece, to cut them
  • Greek problems are primarily euro zone responsibility, not IMF’s

Meanwhile Barroso opines

  • Wants to highlight Greece is IMF member, turning to IMF not a question of prestige
  • EU member states, including Germany, have said they ready to help Greece if needed