After weeks of indecision and brinkmanship when the European Union threatened to come apart, last week saw not just a glimmer but a strong ray of hope.
The French and German heads of state, Nicolas Sarkozy and Angela Markel promised to recapitalize their banks while countries as diverse as China and Brazil agreed to contribute to the IMF so that it can bridge the European debt gaps. All assets classes, equities, commodities and even the euro rallied strongly. CNBC-TV18Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
