German fin min just out on Bloomberg speaking from a meeting in Amsterdam

  • agreement on Greece package "appears possible"
  • 3.5% primary surplus "appears possible"
  • Greece already has low rates and long maturities
  • ESM lending to Greece must be in line with ESM rules

On sovereign debt limits:

  • risk reduction must come before risk sharing
  • backs the Dutch push on sovereign debt exposures

From the same meeting Italian fin min Padoan says:

  • majority of EU countries oppose sovereign debt limits
  • limits may increase not limit risk
  • EU budget framework is too complex, not flexible enough
  • debate must continue in Basel committee
  • Italy favours no change on sovereign debt rules

Where's that pic I've been using a bit lately ? Ah, here it is.

Have a good week-end everyone and thanks for your support as always.