EU's Dijsselbloem from Riga
- Comprehensive reform list still needed from Greece
- There's still wide differences between Greece and creditors
- Feb 20 deal is still the framework for talks
- Will assess Greece again at regular May meeting
- There are some positive signs
- Responsibility for progress lies mainly with Greece
Short but sweet and it looks like no real progress has been made
EURUSD slapped down to old resistance at 1.0823
The rest of the speech is on Spain and Cyprus and not newsworthy. He mentions that Cyprus should lift the last of capital controls on April 26th
Moscovici now on the stand
- Some progress made but we are not near an agreement at all
- Time is running out and stepping up efforts is the only solution for Greece
EURUSD now down through 1.0820 to 1.0817
Klaus Regling now on stage
- Money available to Greece only until the end of June and only once it agrees on reforms with lenders
German spokesman Steffen Siebert says Germany's stance on requirements for Greek deal remain unchanged
The theme coming from the meeting seems to be that Europe is playing hardball and keeping the pressure on Greece. That keeps things on a knife edge so expect further volatility ion the euro
We're on to the Q&A