The positive reactions appeared to be driven by relief that leaders had reached an agreement at all, rather than enthusiasm for the deal itself. If recent history is any guide, the glow could fade fast as investors focus on the details, or on a continued lack of clarity over what role the European Central Bank will play.
"The summit was the first step toward fiscal integration, which is a problem we need to solve, but it will be a long, drawn-out process," said Mohit Kumar, head of European rates strategy at Deutsche Bank in London....
Read it all.
Filed under: * Economics, Politics • Economy • Consumer/consumer spending • Corporations/Corporate Life • Credit Markets • Currency Markets • Euro • European Central Bank • The Banking System/Sector • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • * International News & Commentary • Europe • --European Sovereign Debt Crisis of 2010
Posted December 10, 2011 at 12:12 pm
To comment on this article: Go to Article View
The URL for this article is http://www.kendallharmon.net/t19/index.php/t19/article/40130/© 2013 Kendall S. Harmon. All rights reserved.
For original material from Titusonenine (such as articles and commentary by Dr. Harmon) permission to copy and distribute free of charge is granted, provided this notice, the logo, and the web site address are visible on all copies. For permission for use in for-profit publications, please email KSHarmon[at]mindspring[dot]com
<< Return to Mobile view (headlines)