U.S. markets are on the rise Friday following the latest agreement to help fix the troubled euro zone.
Here are the details on the latest plan:
- Euro-zone rescue funds can now buy bonds directly from Spain and other troubled countries, in an effort to bring down yields.
- A single supervisor will now oversee the euro zone's banks (instead of the group of 17 that are now in charge)
- The agreement also makes it possible for Italy and Ireland to request EU financial assistance
- Leaders agreed to move forward on a "time-bound road map" to form a "genuine" monetary union.
And here are some of the top links that explain the ramifications:
- It's market rally time (Barrons)
- The Bank of International Sentiments will now take on more significance (Geneva Lunch)
- Morgan Stanley and BNY Mellon are among those skeptical of the deal; JP Morgan and Goldman say the euro currency will continue to fall (Business Insider)
- Goldman is now reportedly steering clients toward Spanish, Italian and Irish bonds (Zerohedge)
- It's a lifeline for Spain and Italy (The Guardian)
- Spain and Italy won, Germany blinked, and a real euro zone banking union could now be in the cards (FT)
- A lot of liability details still must be worked out (WSJ blog)
Photo by: fdecomite