Investors hoping equity markets would ride into the new year on the back of a Santa Claus rally may well be disappointed, says Louise Cooper of BGC Partners. As European Finance Ministers gather for a teleconference call later in the day, Louise says the devil is in the detail and that there is no way to ascertain which way markets swing, whatever the outcome of the call.
The con-call is expected to discuss a150-200 billion euro package where the Finance Ministers want to arrange this deal with the IMF whereby the central banks give a load of money to the IMF; they turnaround and sort of relend it back to Europe.
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