Financial Stability Board (and head of the Bank of Italy) Mario Draghi says that other countries face similar risks to Greece unless they make adjustments.
Draghi is one of the prime candidates to take the helm of the ECB when Trichet’s term expires next year, though Germany may expect Herr Weber to get the nod in exchange for bailing out Greece…
EUR/USD is consolidating at 1.3190, off 1.3154 lows.