1130 GMT: The Bundesbank has said the economic outlook for Germany has "oerceptibly brightened," adding that it expects hightened construction demand to provide an economic boost for the foreseeable future. Meanwhile, Italy's Monti has again raised the possibility of an EU-wide financial transaction tax.
1020 GMT: A source at the Greek finance ministry is saying that a deeper haircut on holders of private debt is still being discussed. He added that there appears to be an agreement at the EZ working group on lowering interest rates on EU and IMF loans already paiud to Greece. Elsewhere, Italian PM Monti has said he plans to stick to the 2013 balanced budget target, and there will be no need for another budget package.
0850 GMT: Official comments are all over the place today with some sounding more positive than others. A Finnish official has said a Greek bailout approval is likely in the week of March 12th. A French business confidence indicator for February has come out as expexcted.
0720 GMT: Risk is on in European trade thus far, with Greek optimism propping markets around the world. Commodity currencies are strong against the dollar and Yen as the European FinMins meet today to discuss a second bailout for Greece. ECB’s Asmussen has been on the wires already saying Greece is not a threat to world economy, and that conditions have been filled for second bailout. Asian session highlights includeded Japan posting a record trade deficit, and UK home asking prices showing a sharp rise. Stay tuned for European developments throughout the day.
