European morning wrap: The Day The Earth Stood Still

Greek conservative party leader Samaras will send letter of commitment to bailout deal within the day - Party source ECB's Asmussen:  Conditions for Finance Ministers to agree Greek aid can be met by next Monday's Eurogroup meeting - Reuters Germany FinMin Schaeuble:  Worried about who will guarantee that Greece sticks to agreements following planned elections in April Greece FinMin Venizelos: Some EU states want Greece out of the euro French Q4 GDP +0.2% q/q, stronger than median forecast -0.1% German Q4 GDP -0.2% q/q, slightly stronger than median forecast -0.3% Dutch Q4 GDP -0.7% q/q. Dutch economy is officially in recession - CBS Italy Q4 GDP -0.7% q/q, weaker than median forecast -0.5% Euro zone Q4 GDP -0.3% q/q, very slightly better than median forecast -0.4% Portuguese auction results BOE inflation report:  Sees UK CPI slowing to 2% by end of 2012 BOE's King:  Challenging times for UK economy, substantial headwinds for UK recovery BOE's King:  There is not very much we can do about a future euro zone disaster until it happens UK January jobless claims +6,900 vs median forecast +3,000.  Euro zone December trade surplus +9.7 bln, better than median forecast of +6.9 bln French ForMin Juppe: Greek default would be "worse chaos" for Europe PBOC:  Euro debt crisis can't be solved short-term Iran to start fuelling Tehran research reactor with locally made nuclear fuel rods on Wednesday - Official tells ISNA news agency Not too sure what to say about this morning's session.  Complete waste of time probably best sums it up. EUR/USD marginally easier at 1.3160 from early 1.3180.  Talk of sell orders lined up at 1.3190 through to 1.3220, buy stops above there. Cable down very marginally at 1.5710 from early 1.5730.  USD/JPY effectively unchanged at 78.50. Look on the bright side, tomorrow's morning session can't be any worse, can it?