This one will sting: the troika has presented its demands; Greek ministers expressed concern about the reaction of lawmakers; there has been some progress in the PSI+ talks, as Olli Rehn holds out the possibility of an increased participation of the public sector; Reuters says the ECB remains split on its position; Jean-Claude Juncker says there is a need for a greater public sector contribution; he also says that the second loan package will not come unless all parties sign up to the programme; Michel Barnier said he will wait before implementing proposal to force write-downs for banks; Francois Hollande came out with his economic plan: €20bn more expenditures, €29bn in higher taxes on the rich and large companies; sticks to deficit targets, and a trajectory towards a balanced budget by 2017; Le Monde welcomes Hollande's programme; Frankfurter Allgemeine does not; Brussels estate agents have been swamped by calls from potential French tax exiles; the Spanish government seems determined to hit the 4.4% deficit target, despite the economic slump this year; economy minister Luis de Guindos says this would create confidence in the financial markets; the European Commission dismisses Angela Merkel's plans to divert unused structural funds to stimulate jobs and growth; market participants say the ECB's LTRO will have a very significant effect, but the danger is that policymakers might see this as a signal that they have done enough; Philip Stephens says that Italy is once again a political power, thanks to Mario Monti; Hugo Dixon, meanwhile, explains why a merger of the EFSF and ESM will not suffice.