After tremendous pressure on EU , leaders took some substantial steps forward to save euro and european union but is it going to be enough ??
Van Rompuy said the proposal ‘needs unanimity’ and would only occur under ‘strict conditions’. A general long-term plan for a tighter budgetary and political union is also agreed.now this " strict condition " again creates suspense to market but it seems EU leaders are not dawdling and taking earnest steps towards calming world market and shrinking european economy.
Important points of EU deal,
Van Rompuy said the proposal ‘needs unanimity’ and would only occur under ‘strict conditions’. A general long-term plan for a tighter budgetary and political union is also agreed.now this " strict condition " again creates suspense to market but it seems EU leaders are not dawdling and taking earnest steps towards calming world market and shrinking european economy.
Important points of EU deal,
- The leaders of the 17-nation currency bloc agreed that euro-area rescue funds could be used for sovereign debt purchases without forcing countries to adopt extra austerity measures.
- Single supervisory body for euro zone banks to be created , the funds could be lent directly to banks for recapitalisation without penalising existing debt holders.
Important economic data for today,
- GERMANY retail sales ( MoM,YoY ) came bad then expected.
- UK's king speech
- CANADA GDP
- US personal income
- US core persona consumption expenditure- price index (MoM )
- US chicago pmi
- US Michigan consumer sentiment index
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