Europe’s Debt Crisis
Europe’s debt deal is falling flat
By Aaron Smith@CNNMoneyMarketsDecember 15, 2011: 7:52 AM ET
Germany’s Angela Merkel is trying to instill Teutonic-style fiscal responsiblity throughout Europe, but bonds, stocks and the euro are behaving like last week’s summmit didn’t even happen.
NEW YORK (CNNMoney) — What fiscal pact? There is little sign that last week’s European summit even happened, judging from the high cost of sovereign debt and the weakness in European markets.
Last Friday, European leaders — with the exception of Britain’s David Cameron — pledged to form a tighter, more deeply integrated fiscal bond among member states. Of course, most of the countries still need to get parliamentary approvals before moving forward.
http://money.cnn.com/2011/12/14/markets/europe_debt/index.htm?iid=EL
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