Well this is bad but I think market won't pay attention any of this as usual and eu will try to break 1.3170 this coming week. If it fails then it will free fall....
ECB board member shuts door on Greek pleas for leniency
Greece cannot have more time to repay its debt to the European Central Bank because it would be illegal and "illogical", board member Joerg Asmussen has said, as he shut the door on pleas for leniency from the bank. Mr Asmussen said that the ECB could not lengthen the time period for loans to Greece nor lower interest rates as "both concessions would be a form of debt forgiveness and therefore a direct financial support for the Greek state. "That would not be allowed under the law governing the ECB," he said. He also said that it would be wrong for Greece to say it needed more time but not more money. "A temporary ... (full story)