By Keith Springer : Euro Cavalry to the Rescue! The European Commission bails out the banks... After much speculation, the stock market cheered as the 19th European Summit on the crisis in the Euro zone finally allowed bailout funds to be directed towards private banks and financial institutions. ...
Morningstar Spain's Fernando Luque explains the reaction in Madrid to news of a bank bailout , further problems facing European governments, and a potential outcome for the eurozone.
The market was a selective shopper this week, latching onto the notion of more stimulus, but hesitating to buy into the Spanish bank bailout and cutbacks at Nokia.