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Stock Jul 2012 - "Stock Market: Europe Struggles; the Fed Extends Bond-Buying Program"

Stock Jul 2012 - "Stock Market: Europe Struggles; the Fed Extends Bond-Buying Program"

Stock Jul 2012 - "Stock Market: Europe Struggles; the Fed Extends Bond-Buying Program"

Excerpt


Stock Market: Europe Struggles; the Fed Extends Bond-Buying Program


Europe’s debt problems continued to dominate the business headlines in June - the only change being the shift of attention from Greece to Spain, where struggling banks and high bond yields have mired the country in economic crisis. Before the next Euro Zone summit (scheduled for June 28-29) got rolling, commentators were expressing little hope that the meetings would make major progress in resolving the Euro Zone debt crisis. German Chancellor Angela Merkel had reached agreement earlier with leaders from Spain, Italy and France on a package totaling 130 billion Euros to restore growth but continued to resist the struggling nations’ requests for a more flexible rescue plan. The anticipated absence of Greece’s senior ministers from the June summit (due to illness) was an added complication. A summit spokesperson noted that, under such circumstances, no decisions would be made on Greece’s situation. 



 


 


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