10 May 2010

Euro Surges after Lows

EU finance ministers and central banks have agreed on an emergency loan which can be called on by any of the 16 euro zone member countries if they are at risk of falling into severe credit problems like those of Greece.

The fund, agreed on over the weekend, caused the euro to surged while global stocks also rose. International investors are finally calmed by the European situation which last week threatened to reach to severe levels.

It is also hoped that negative speculation surrounding the euro will now slow down and that the currency will be stabilized - at least, that is the hope.

No comments: