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Global Markets Soar on European Breakthrough

New York Times Original article ›

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Short term actions to save the euro taken at the Brussels negotiations on June 28, 2012

01/11/2012

Short term steps Germany agreed to when pushed hard by Italy, Spain and France, include the critical actions to let the European rescue funds to directly buy Italian and Spanish bonds on private markets to drive down bond yields, and provide direct aid to Italian and Spanish banks. The two steps were vital to restore market confidence and necessary if the European project was to be saved. The marathon negotiation stetched for 14 hours with brinksmanship, and were described by prime minister Monti of Italy as "hard and tense" but worth it.

Grouped Articles

Italy's Monti Hopes Summit Win Plays at Home

Wall Street Journal 06/29/2012

Global Markets Soar on European Breakthrough

New York Times 06/29/2012

Return of Long-Term Bond Buyers Seen as Crucial to Europe

New York Times 06/29/2012

German Election Overturns Political Order

Wall Street Journal 09/23/2013

Italy Leader, Monti, Tells Germany Austerity Isn't Enough

New York Times 01/11/2012

Euro Strengthens as Fears Fade

Wall Street Journal 01/12/2013


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