Saturday, June 30, 2012

Euro Summit Produces Hope For Eurozone

Europe's seventeen leaders met up Friday to talk about short and long-term solutions to the growing economic instability of the continent.

One of the most important decision, was allowing bailout funds to be directly injected into troubled European banks, rather than make loans to governments to bail out the banks.

This decision will rescue banks without putting strapped countries deeper in debt, and further stabilize the European government bond markets.

Furthermore, each of the Euro currency using countries must now place economic reforms within themselves to be allowed access to the European bailout programs.

As a reaction to the news, global stock markets and the Euro currency rallied today, mostly showing positive sentiment towards the recovery of the deeply troubled Eurozone.