Hot on theheels of America sorting its financial
woes – or at least reaching agreement on
its debt ceiling – Europe’s financial power
masters have done the same, sending a
wave of relief not only across the continent,
but US and Asia.
On the day the deal was completed
(Thursday, 27th October) stocks, futures
and company shares shot in an upwards
direction, reaching their highest point in the
last three months.
In a nutshell (it apparently took 90 meetings
over ten hours to arrive at this point!) the
European emergency bail-out fund has been
quadrupled to €1 trillion ($1.4 trilliion) and half
the Greek debt has been written off.
Since 2009 the instability of the Euro has sent
shockwaves across the globe, with American
companies and economy feeling the
uncertainty from the lack of faith in the
European currency.
Let us all hope that this is the start of the
end for the doubts and allows companies
worldwide to plan and prosper for a brighter
2012.
David Bell
Editor
#05
EDITOR
wiredInUSA - November 2011
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