The global markets witnessed a big sell-off action yesterday. The Bank of Italy governor said that the Italian borrowing costs have to reach a level of 5% if Italy has to successfully manage its debt of almost 2 trillion euro.
The markets are still not determined on what the policymakers in Europe prepared to do today, said Seth R Freeman, emerging and frontier markets specialists at EM Capital Management.
Federal Reserve Chairman Ben Bernanke in his meetings indicated that the US Fed has no intention of contributing to Europe
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