Deal on euro is already in strife
THE ink is barely dry on the so-called solution to the euro debt crisis and already there are problems. Italian bond yields shot past the 6 per cent mark on Friday, creating real worries about whether Silvio Berlusconi's government will be able to fund itself.
Stock markets roared ahead last Thursday on news of the euro leaders' agreement to recapitalise banks, haircut the Greek debt and expand the bailout fund. The optimism diminished on Friday, with markets muted. Key questions remain over how the bailout fund will be expanded and whether the banks will raise enough money to beef up their balance sheets.
Sunday Indo Business