AFP - The euro and European stocks rallied strongly on Wednesday and pressure on Spain eased, but the eurozone debt crisis weighed heavily with a credit watch for Portugal and Germany struggling to sell bonds.
The euro and European stocks rallied strongly on Wednesday and pressure on Spain eased, but the eurozone debt crisis weighed heavily with a credit watch for Portugal and Germany struggling to sell bonds.Leading EU figures warned that financial markets were underestimating the will of EU leaders and institutions to defend the euro and the eurozone.But in a new sign of the extent of anxiety among investors, a German bond issue was undersubscribed.
Marc Chandler submits:Ideas that at its meeting tomorrow the ECB may take additional measures to stem the financial crisis that has threatened this week to spread outside the periphery and toward countries like Belgium, are prompting some position adjustment in both the foreign exchange and fixed income markets.
Hong Kong (AFP) - Most Asian markets rose Friday, taking a positive lead from Wall Street where the Nasdaq broke a 15-year-old record high, while the euro ticked higher ahead of a key eurozone meeting to discuss Greece's debt crisis.
Ronald Solberg submits:With Greece having secured a successful roll-over of its heavy amortization schedule earlier in the year, coupled with the successful beginning of its multi-year fiscal consolidation program, events in Athens have fallen from the headlines and somewhat eased investors’ concerns.