• The next step in the Greek bailout saga will be in the hands of Euro zone finance ministers. The negotiators for private creditors have made their “final” offer. Given the economic deterioration in Greece, it remains to be seen if a comprehensive deal can be structured to meet debt to GDP targets. From Reuters News.
• The European Union foreign ministers announced that there will be a ban on Iranian oil imports beginning July 1st in an effort to pressure the nation to contain its nuclear program. The EU will try to put measures in place to ease the pain of an embargo for some countries, like Greece. Concerns remain over safe transit through the Strait of Hormuz despite comments from NATO to keep it open. Brent continues to rally on the news. From Bloomberg News.
• You’ll get a chance to look at Mitt Romney’s 2009 and 2010 tax returns tomorrow. After a brutal week culminating in a second place finish in South Carolina, the candidate decided to relent on the issues of his tax rate and business dealings brought under focus by his Republican rivals. The next battle in Florida takes on an even bigger role in driving momentum for either Romney or Gingrich. From the Financial Times.