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Wolf Richter www.testosteronepit.com Markets soared in Asia, Europe, the US, everywhere. Let the good times roll. The euro jumped to the highest level in a couple of weeks. Yields on Spanish bonds plunged to the lowest level since, well, Monday. A miracle had happened. German Chancellor Angela Merkel had blinked. Um, a little bit. All eyes were on her at the EU summit in Brussels, the one summit that would once and for all save [...]
BRUSSELS — Working through the night in the face of pressure from the embattled euro zone countries Italy and Spain, European leaders agreed early Friday to use the Continent’s bailout funds to recapitalize struggling banks directly, according to the European Council president, Herman Van Rompuy. The decision, by leaders of the 17-nation euro zone, would allow help to banks without adding directly to the sovereign debt of countries, which has been [...] Wolf Richter www.testosteronepit.com During the two-day EU summit on June 28 and 29, all eyes will be breathlessly riveted on German Chancellor Angela Merkel—with one question on all lips: will she blink? Because nothing less than the future of the Eurozone and the euro is at stake. And by extension, the world economy. Only she can save it. And she’d have only 48 hours! There is even the Grand Plan, issued by European Council [...] |
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