Markets Warm to Euro Bailout Plan
Stock traders in Asia and Europe seemed to like the news that European governments will coordinate with one another as they throw cash at troubled banks. The euro zone plan was announced on the heels of similar British and American schemes.
Stock traders in Asia and Europe seemed to like the news that European governments will coordinate with one another as they throw cash at troubled banks. The euro zone plan was announced on the heels of similar British and American schemes.
EU leaders wanted to hatch their framework before Asian and European markets opened on Monday, and so far they have been rewarded for their promptness.
Rooted in Truth.BBC:
European and Asian markets have rallied in response to efforts by world leaders to stem the recent financial turmoil.
London’s FTSE 100 index and France’s Cac 40 index both jumped more than 5% — tracking earlier gains on Asian markets. Bank shares led the advance.
Major central banks also made extra funds available and said they would take “whatever measures necessary” to end the crisis.
EU leaders said on Sunday no big bank would be be allowed to fail.
Independent by Design.
Your support helps ensure that rigorous reporting, thoughtful analysis, and investigative journalism remain accessible to everyone.
Support independent journalism.
The viral outbreak is threatening to crimp worldwide economic growth and hurt profits and revenue for a wide range of businesses.
Since a pair of crashes left 346 dead, not a single member of the company's board has testified under oath. The public deserves answers.
A new report from the U.N.'s Intergovernmental Panel on Climate Change finds desertification is destroying the very soil that feeds us.
The administration wants to prevent most migrants from seeking asylum in the U.S. if they pass through another country first.
A new Russian-Chinese alliance threatens to upend the existing world order, argues Rob Jonson of the Institute on New Economic Thinking.
The president's fervently nationalist agenda has not only hurt our closest allies but undermined multilateral efforts to contain China.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.