The news that the ECB will be extending its bond-purchasing programme for three months to help out European nations seems to have been welcomed by markets as the Euro has found some strength. The currency is still in a very vulnerable position however as some believing the bond measures were inadequate with the underlying debt problems not being solved.
The emphasis is on providing individual nations more time to help themselves out of crisis, before the EU steps up measures any further.
Greece’s credit rating is also under threat by Standard & Poor’s and issues continue to stagnate in Ireland pending the 7th December budget. Interest rates were held at 1 percent yesterday for the 19th month in a row