Wednesday, August 10, 2011

Euro concerns now centre on France and its banks!

As the ECB throws yet more money at Italian and Spanish bonds, the supposed beneficiaries, the banks of the Eurozone's centre, in particular France come under relentless pressure, as may be read from this link.

AFP reports the following on Societe Generale and Sarkozy's rushed return from vacation:

The bank's shares briefly dropped 20.24% before recovering to stand down 13.1 percent at 22.6 euros.
The tumble came as President Nicolas Sarkozy broke off his summer vacation to meet with ministers to discuss France's deficit-reduction plans amid the debt crisis rattling global markets.

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