Further to my post yesterday which reported ECB tests showing a potential shortfall of €14.4bln

  • Greek banks may not need more than €10bln
  • private capital may keep aid needs below €10bln
  • Greece rescue fully prepared for bank capital needs
  • Greece can quickly tap €10bln set aside for bank needs
  • second tranche of €15bln available if needed
  • Greek capital shortfall is within bailout buffer
  • bank review shows Greek rescue won't use all €86bln

European Stability Mechanism quick to re-assure after the ECB report

Main thoughts immediately though will be on Draghi's comments which I posted yesterday