Papandreou says EU has devised ways to lower Greek borrowing costs

The EU would intervene in markets if Greek borrowing costs don’t fall, the PM says. Speculators betting against Greece must be made to feel they will lose money, adds the PM.

Short of buying Greek debt or providing debt guarantees it’s not clear how the EU could lower Greek borrowing costs.

EUR/USD trades at 1.3637 after a dip as low as 1.3622.

More support is at 1.3612, the 50% retracement of the 1.3544/1.3679 rally.