Italian PM in a newspaper interview. Reuters reporting

  • Italian banking sector stronger than some investors fear
  • there are moves being made on certain banks
  • best solution for Monte dei Paschi will be decided by market
  • I'd really like an Italian solution but whoever comes will get a bargain
  • must stop thinking Brussels is infallible as shown by events in past 10 years

" I'm not raising my voice in Europe. I'm raising my hand and asking questions"

  • sees no risk that Brussels may ask Rome to amend 2016 budget in the Spring

Renzi on the front foot from what some may argue is a back foot position.

Meanwhile EURUSD pops back over 1.0900 but fails to hold gains and USDJPY sinks further but finds buyers into 116.60

Italian PM Renzi - Not raising his voice, just raising his hand