So says the Italian treasury dept a few moments ago 12 Dec

Reuters reporting from treasury sources

  • treasury ready to intervene to recapitalise MDP if prvt capital plan fails
  • confident that the pvt-funded capital plan can succeed

Euro not so impressed though. EURUSD still 1.0567 EURGBP lower at 0.8383 sending GBPUSD up through 1.2600 helped by GBPJPY demand.