• He and Merkel were “coherent” at g20
  • Europe must act quickly
  • IMF not there to backstop the euro zone
  • Euro zone must find own solution to crisis not rely on outside help


  • Greece must stick to rules
  • Markets want closer EU union
  • Need to wait for next Troika report on Greece
  • Won’t speculate on easing Greek terms
  • Expects Spain to submit formal request for aid for its banks soon
  • Banks that are not sufficiently capitalized are a danger to the economy

Coherent? That’s a first…