• Greece announced over the weekend that it will miss its prescribed deficit targets for the year. As the economy contracts it has proved difficult to keep budget cuts on track. From the Wall Street Journal.
• The ECB’s Noyer says that concerns over French bank’s access to dollar funding outweighs exposure to sovereign risk of “peripheral” countries. Noyer noted that an increase in EFSF fund is unlikely, but he’s open to ideas about leveraging the fund. From the Wall Street Journal.
• Equity analysts have been slow to reduce earnings estimates for this year and next. Still, prices are approaching a point that discounts dramatic reductions in estimates. From Bloomberg News.