By Marcus Leach
European markets continued their rise this morning on the back of yesterday’s announcement of central bank loans to commercial lenders.
However, answers are still being sought for a longer lasting solution to the European debt crisis.
European finance ministers will meet today and will be joined by US Treasury Secretary Timothy Geithner to discuss ways of reducing debt across the eurozone. On the agenda will be discussion of the plans to release more funds to Greece to avoid default.
“This week really has been one that has seen huge fluctuations in the markets and although we have seen rises in banking shares following the announcement of central banking funding, there are still many investors with reservations about increasing their portfolio because of a lack of confidence in the long term future," John Douthwaite, CEO of SimplyStockbroking said.
“Today’s meeting will help to set the tone for future trading activity but also for the health of the European economy. Following yesterday’s euphoria, the reminder of the uncertain future is again brought to the fore and there will be many with a close eye on the aftermath of today’s discussions.”
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