Thursday, July 21, 2011

Markets rally on reports of latest Euro Fudge

Described as a copy of the original Marshall Plan which rescued Germany from excessive debts following World War Two, financial markets have rallied on early reports of the draft of proposed steps to rescue the Euro.

The Guardian has a regularly update web page on developments from the Euro Group Council Meeting, linked here.

The short term fix, probably designed to allow the EU leadership to enjoy their normal extended summer vacations, seems to be confusing the 'as usual' completely gullible markets. Rest assured the crisis will return with a vengeance sooner rather than later.

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