• Financing outlook to 2013 in line with expectations
  • 2012 deficit to be at or below the 8.6% program target
  • Committed to strong record of program implementation

Bloomberg headlines.

EUR/USD consolidating losses around 1.2500 after a brief dip as low as 1.281 on the talk of Greece being suspended from the euro area. A sustained move below 1.2480 would signal a near-term top is place.