EU Summit – Last Chance for Eurozone?

This Thursday’s summit of European Union leaders could well represent the last chance for EU lawmakers to convince global markets that the Eurozone concept is viable and worth defending.

“Nobody should be under any illusion: the situation is very serious. It requires a response, otherwise the negative consequences will be felt in all corners of Europe and beyond,” European Commission President Jose Manual Barroso told a news conference.

At the top of the summit’s agenda is the question of how to ensure the sustainability of the so-called PIIGS (Portugal, Italy, Ireland, Greece and Spain) and the growing concerns that debt contagion is spreading across the continent.

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.