Dec

17

Europe remains in hibernation. The lack of progress in the Summit of Heads of State and Government in Brussels regarding the Greek crisis yesterday took the risk premium on Spanish highs, raised tension in the European banking system and punished to bags, to the euro, peripheral debt and almost everything what was shooting in the markets. Brussels still does not know how to handle the fiscal fire in Greece, with its European partners in an impasse more than the hope that Athens resolve its political crisis. All pressure in the eurozone so that Greek Conservatives support the austerity plans – perhaps the pivotal moment of the meeting – took a null effect. The political crisis in Greece is still in the air. And nobody seems to already suffice statements: we have agreed that there will be a new rescue plan for Greece, said German Chancellor Angela Merkel to the output of the Summit. That confidence did not prevent a fateful day in the markets. Source of the news:: the failure of the Summit raises tension on Spanish debt.