Weekly Fundamentals - Optimism Boosted by EU Resolution

Commodities rebounded sharply on Friday as new measures announced after the EU summit boosted optimism. The 17-nation leaders proposed to create a single supervisory mechanism with the ECB involved. With such mechanism, the funds could be lent directly to banks for recapitalization without penalizing existing debt holders. Funding will be provided by the EFSF until the ESM becomes available.

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Weekly Fundamentals - Optimism Boosted by EU Resolution