Maeve Dineen: Have European leaders done enough to save the euro? Probably not
Published 12/12/2011 | 05:00
Amid all the bluster on Britain being isolated from Europe, the knock-on effects for Ireland and the threat to our corporate tax rate, the more mundane question is -- did European leaders do enough last week to save the euro? The answer is: probably not.
Market reaction will be watched closely over the coming days but the truth is that we shouldn't expect much response this side of Christmas.
Traders, who have had a hell of year on the money markets, are likely to opt for a long run into Christmas and start winding down from this week. Therefore the real impact of last Friday's deal won't be seen until the new year.