EU economic czar Rehn says that Spain needs to take specify concrete fiscal measures for 2011. Economic growth will solidify at the end of 2010, he says.
Also crossing the wires is news that Moody’s has downgraded nine Greek banks, following on the sovereign downgrade yesterday.
On last factoid: The ECB drained 363.5 bln in EUR in overnight funds from the money market. Huge sums are being left on deposit at the ECB and not loaned among banks, a major problem that needs to ease bore the euro can rebound in sustained fashion.