Handelsblatt earlier today that around Eur4 bln now stands between Germany and a balanced budget, after previously suggesting that the Fin Min might have to cut spending by around Eur 6 bln. Recent estimates on revenue and expenditure now point to the gap narrowing.

  • On Cyprus-
    • Ministry has never said whether systemic is or isn’t systemic
    • Cyprus’s systemic relevance has yet to be determined