• The EU is still waiting for news of structural reforms from Italy. The political realities of implementing draconian measures are proving a drag on any progress. From Reuters News.
• Banks are balking at the level of haircuts being pushed by EU officials on the Greek bonds that they hold. The unilateral decision-making process is roiling many in the banking industry. From Bloomberg News.
• Recession fears grow in Europe as recent data hints at slowing growth. From the Wall Street Journal.