BRUSSELS - Shares jumped and the euro made gains on Monday (11 June) after the eurozone announcement of a €100 billion rescue for Spain's banks. But the euphoria is likely to be short-lived.
Asian markets surged by almost two percent and the euro made gains against the US dollar and the Japanese yen on the first business day after the Saturday bail-out announcement.
"It is a very clear signal to the market, to the public, that the euro (area) is ready to take decisive action in order to calm down market turbulence and contagion," EU economics commissioner Olli Rehn said.
More here: http://euobserver.com/19/11656...