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Currency News – Euro Integration Main Theme Of Franco-German Summit

The main theme of the Franco-German Summit seems to be closer Euro integration, as many people have expected. Basically, both Merkel and Sarkozy are trying to make sure that in the future, the financial policies of all members are more integrated and that things are more closely watched so we don’t get into another position like we are right now.

Unfortunately for Italy, they also made it clear that joint Euro bonds could only be a long term option. Italy was pushing for them as soon as possible to help their cause, but that doesn’t seem like it is going to be an option.

 

Joe Biden In China To Build Ties And Help Restore Confidence

Since China has been quite upset with the way the US was handling their debt issues and have been quite outspoken about it, it is no surprise that they are a main priority of the US administration. Joe Biden is on his way over to Asia to meet with many leaders, with the Chinese leadership tops on his list.

To ensure that the relationship between the US and China stays strong, there is a good chance that the US will have to make some concessions and make some moves to appease the Chinese. Considering they are the main creditor of the US, it only makes sense that they are in the drivers seat when it comes to many of these issues.

 

Results From Franco-German Summit Fail To Inspire Confidence On Wall Street

American investors were anxiously waiting to hear the results of the Franco-German Summit that was held today, and unfortunately, they didn’t like what they heard. They were hoping to hear that Euro bond sales would be increased or more money would be added to the Euro zone rescue fund, but that just wasn’t the case.

As a result of this, the American market did not make any noticeable gains, even with news that Fitch was going to maintain its AAA rating for the US and impressive earnings reports from many major companies.

The Euro zone debt issue is going to be a major issue that needs to be taken care off soon if the markets are to rally anywhere in the world. Since the US market didn’t rally today, there is a good chance the Japanese market won’t rally early tomorrow, and the negative momentum will continue. If the Euro, the USD and the Yen are to make any progress and stabilize, the markets have to get in

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