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Europe Day Ahead: All eyes on EU summit for debt solution

Thursday, December 08, 2011 - 02:54

Dec. 8 - Investors turn their attention the EU summit on Friday, where French President Nicolas Sarkozy and German Chancellor Angel Merkel hope to push their plans through to save the region's single currency.

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ECB cuts interest rates by a quarter point bank to a record -- 1% a welcome thing is just hours ahead of the make or break European summit the tossed. No less than halting the present crisis to saint the single currency policy make is keeping them made upbeat but now the genitals -- local insists the solution. We'll be found. Also the rate -- ECB president -- drank he pointed out the point out that the European economy. The intensified financial market tensions. Continue to dampen economic and dvd in the Euro area. And the outlook remains subject to high uncertainty. And substantial downside grace. Now markets lousy playing a wait and see gain the -- the summit gets underway later on Thursday evening the hero of retreating by a full sent -- to -- drank he revealed -- the decision to come out rates. Let's not anonymous and there was no discussion about cutting rates by more than 25 basis points. Investors also disappointed track he did not signal mobile buying from the ECB European -- -- turning negative in afternoon trading. Now before traveling to -- -- light says several European leaders gathered earlier today in -- say for a congress of the consent of European people's party the French president Nicholas Sarkozy in the German chancellor Angola and local. Hoping to. Ronnie the center right behind the plans for saving the single currency. What insider is Cheney we gave risen in Brussels for the -- expectations are running high right now Jamie what is the mood on the ground currently. Well -- as you say it dusty expectations are running very high but so is the best of disappointment and not the cause as you saved. The European Central Bank -- -- -- fight on the -- the point I'm violent sound. Opened up liquidity for the banks but if you get kind of chewing is doing all kinds of help the banks instead -- -- -- -- -- both -- on expectations of more aggressive bond buying. And it acts like he was also that a coup on the idea of the ECB lending to the iMac to end bots. Troubled eurozone solvents. Of course this is the pressure of this is the ball back firmly in the court of the politicians who meet tonight and tomorrow. But of course -- -- still huge if that can say is I'm done a lot of time has to be covered still just a few of them for example and there are differences on automatic sanctions. Well fiscal union will look like and and and whether or not they will actually be a new treaty on amendments to the existing treaties so one thing become beach at all. We -- in front of anybody long hot talk to be too long nights. Fantastic stuff Jamie gave -- joining -- from Brussels and planning multi come from Jamie tomorrow. From the council belts and they'll stay within sight of them online coverage of the crucial EU summit in Brussels but for now on Dustin Johnson this is what it's.

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Europe Day Ahead: All eyes on EU summit for debt solution

Thursday, December 08, 2011 - 02:54