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European Stocks Climb on Debt-Crisis Deal

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DCBob Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 02:48 AM
Original message
European Stocks Climb on Debt-Crisis Deal
Source: Bloomberg

European stocks rallied to the highest in 12 weeks after the regions leaders agreed to expand a bailout plan to halt the sovereign debt crisis. Asian shares and U.S. index futures also climbed.

<snip>

Although nothing ground-breaking was announced or any shock and awe sized bazookas were brandished, market sentiment has still been buoyed on the fact that policy makers are finally making some progress, Jonathan Sudaria, a trader at London Capital Group, wrote in a note. This is a firm step in the right direction.

Read more: http://www.bloomberg.com/news/2011-10-27/european-u-s-s...



This could be the real deal and may be the beginning of a turnaround for Europe and other economies closely linked to the EU. The willingness for the Greek bond holders to accept a 50% haircut is what is most significant here. I have been somewhat pessimistic they could solve this mess but now I have renewed hope.
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dd2003 Donating Member (198 posts) Send PM | Profile | Ignore Thu Oct-27-11 03:00 AM
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1. everything is bullish since oct 5
dont mess with the robots...i give this 2 days until italy pounds the table asking for money... have to beat portugal to the trough or they get less money...truely a system of enabling and piling debt....Where else can you go bankrupt and get half of your money back and still get to keep your land???
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DCBob Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 03:07 AM
Response to Reply #1
2. Italy does appear to be in the focus now.
If things begin to go south there also and they require a bailout then all bets are off.
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dipsydoodle Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 03:23 AM
Response to Reply #1
3. Mention has already been made
of Italy being forced to sell government owned land and the government's stakes in their utility companies.
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sendero Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 05:58 AM
Response to Original message
4. Another can kicking exercise.
... but then at this point what else can they do? Eventually currency will be printed to deal with all of this (and yes that includes dollars - more fun for the US taxpayer) but for now the game is delay, delay and delay.
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