Optimism for Europe?
Recent rallies in capital markets reflect optimism that the Europeans are finally going to come to grips and do something meaningful with regard to sovereign debt issues. If expectations are fulfilled, we will have dodged a bullet with respect to Greek default and will probably be able to salvage some strength in the European banking systems. Failing that, we could see a complete reversal in the euphoria we have seen. Morris Segall comments on optimism in Europe on the Baltimore Sun’s website.
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