Europe Has a Deal: Is the Devil in the Details?
Fri, Oct 28, 2011 By Stacy Curtin | Daily Ticker
Global financial markets surged Thursday on the news that European leaders finally agreed to a solution for the euro zone sovereign debt crisis, which has worried the world for more than two years. U.S. markets jumped 3% upon news of the deal, while European bourses were up nearly 5%.
"I'm surprised financial markets have taken this to be a huge step forward," says Zanny Minton-Beddoes, The Economist's economics editor. "Like many of the previous deals — and we've had a number of them— when you look at the details, people are going to be somewhat more disappointed."...........
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