Eurogroup: OK to aid for Greece, discount on deficit for Spain

Yesterday evening the finance ministers of the Eurozone gave the political ok to the new 130 billion euro plan for Athens - Tomorrow the official yes - The target for Spain's 2012 deficit has been revised from 4,4 to 5,3%, half one point less than what Rajoy asked for – Green light for new austerity for Belgium – Decision on EFSF and ESNM postponed.

Shortly before 23pm last night in Brussels the last meeting of theEurogroup. Here are the conclusions reached by the finance ministers of the euro area:

1) "Political and principled" green light to the new 130 billion euro aid plan for Greece, which will only be officially formalized tomorrow.

2) Postponement to the end of the month of the decision on strengthening of the EFSF and ESM bailout fund, the anti-contagion shields.

3) Approval of the new ones 1,82 billion austerity measures euros decided last Sunday by Belgian government to meet the 2012 deficit target of 2,8% of GDP.

4) Review of 2012 Spanish deficit target from 4,4 to 5,3%, in any case well below the more realistic 5,8% announced earlier this month by the premier of Madrid, Mariano Rajoy.

Also in Brussels, a meeting is scheduled for this morning Ecofin. The finance ministers of the EU 27 will mainly discuss the possibility of introducing the so-called Tobin Taxi.e. a tax on financial transactions. In the afternoon in Rome summit between Italian premier Mario Monti and German chancellor Angela Merkel.