French Finance Minister Lagarde says that EU ministers are exploring different financing options to help countries in difficulty after a summit over the weekend rejected pleas for immediate aid. There are no discussions of aid for Ireland, Greece or Portugal, she says. The downgrade of expectations for French GDP growth today will not necessarily lead to larger borrowing for France.
EUR/USD is trading below 1.2600 late in Europe as share prices weigh heavily on the markets. The S&P is down 3%.
