Thursday, October 20, 2011

Global jitters back on reality check that EU leaders won't agree on bailout deal at weekend meeting; Australian investors also spooked

A workable solution to Europe's deepening debt crisis is looking even more remote today.

Plans to tackle what threatens to become a fully blown banking crisis have stalled after a new split emerged between France and Germany on how to operate the European bailout fund.

Here's my analysis from this morning's edition of AM.

Despite an ultimatum from the G20 that EU leaders agree on a solution, this weekend's meeting has gone from "make or break to "deadlock".

In the meantime, uncertainty remains about the level of financial firepower needed to prevent a potential cascade of sovereign defaults that could engulf Europe's debt exposed banking system

No comments:

Post a Comment

What's your view on this?