The Euro rallied on the positive news coming from the EU summit

Note: This section contains information in English only.
Source: Bloomberg
Following the decision of European leaders to ease Spanish debt terms, the Euro soared against its major counterparts. The European shared currency jumped 1.1 percent to  1.2579 US Dollars and surged 0.9 percent to 99.77 Yen. The EU officials are meeting in Brussels to discuss measures to combat the debt crisis, which forced five Eurozone members to seek bailouts. 
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Fri, 29 Jun 2012 07:25:25 GMT

Eurozone agreed on direct bank aid

EU leaders agreed to use financial resources of the Eurozone's bailout fund to backup banks directly, without increasing sovereign debt. Eurozone-wide body to supervise the banks also was established, said Herman van Rompuy, EU chief. Experts claim that persistent worries over Italy's and Spain's economic instability finally persuaded Angela Merkel to shift to more growth-boosting strategies. The project is expected

Fri, 29 Jun 2012 06:40:25 GMT

Spain does not need a full bailout

The Spanish government reiterated that the country does not need a full bailout to help the ailing regions, despite having to pay a euro-era high interest rates for short-term debts, after he government decided to ask for financial aid of100 billion Euro to prop up its banking sector. The officials agreed that it might be too perilous to establish a

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