The European Union's Olli Rehn has said that it's too early to put figures on the Greek financing gap, and that there will be a "proposal, possibly in Autumn".
Steve Collins, global head of dealing at London & Capital Asset Management:
German CDU politicians are going to be furious Rehn has slipped his gag with this statement ... 'there is no Greek gap' ... got it!?!
On Italy, Rehn said that the country requires political stability to buoy recovery.