There you go! All this talk about markets "optimistic about a deal" has been a cover up. The euro is going up due to stresses in french banks. Ironically, the banking situation in euro is getting worse but is pushing the euro higher. Only matter of time before euro is sold off in my opinion.
the real mover is the dollar. When the dollar falls, the euro rises and commodities rise. When commodities rise, so do equities. So it looks like the Euro is pulling the equity market. But actually, the USD is in the drivers seat.
As I had already again & again commented that Euro zone is in savior crises and is expecting to be broken in near future. How a summit can solve the crises of a group of countries, where more than 25% group is in crises and near to default? I think this is not possible and the alternative result is the end of Capitalism & the implementation of other system "Socialism"
But the market is silly, whatever equity or currency......
they started to get confident after Merkozy come up with a plan by the end of month and were optimist that it will help, even in the meantime the whole world is protesting. Do the market want to send the law maker a message that if you take time, so do we ?
Joined Dec 2010
Status: monkey keyboard warrior
some comments are funny here solution for crysis is one week ? common use as least some common sense people,EU is like a bucket full of holes and only solution is to pour more money into it perfect solution,to reach same debt as usa in couple of years.
Calm down, this is just more of the usual German posturing, trying to play tough before Angela rolls over & puts out for the EU - but first she must show she defended her honor & German taxpayer funds -until they've got banks protected, they'll do best to prevent defaults & Germany writes more checks, especially if it can get the IMF (US) to share the burden