German Chancellor Angela Merkel described Europe’s economic crisis as “perhaps the toughest hour since World War Two” in an address to her party. Merkel also expressed fears that Europe could fail if the euro failed and renewed her pledge to find a solution to the region’s economic troubles.
“Although there is some progress in both Italy and Greece, there are still a lot of concerns, prompting investors to cash in on early gains,” said Joshua Raymond, chief market strategist at City Index, highlighting the deep-seated concerns.
Source: Reuters
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