Ben Bernanke chose his first news conference to produce a dovish message: no policy tightening expected for the time being; Fed's raises inflation forecast; euro/dollar rise to $1.4867; Greek two-year yields rise to 27%, as market participants are speculating on a large enforced haircut before 2013; Portuguese media report on a delay for Portugal's deficit goals under the rescue package; FT Alphaville writes that the ECB quietly killed off the Securities Markets Programme; Klaus Regling criticises EU cacophony, and says Commission did not enough to warn about unsustainable development in Ireland; the FT writes that Germany will support Draghi, though Germany is not ready to commit yet in public; Elena Salgado urges Spanish autonomous regions to stick to their deficit targets; the Flemish separatists, previously staunchly pro-European, have discovered the electoral benefits of EU bashing;Belgian bonds spreads, meanwhile, are quietly rising again, as the country's has been without a government for one year.