European Markets Go Nuts As EFSF Ratification Looks Assured

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Photo: Emery Way via Flickr

European markets were up across the board today, as Slovakia’s opposition party leader announced that he had struck a deal with the failed government to pass a plan to expand the European Financial Stability Facility.DAX: 2.02%

CAC 40: 2.42%

FTSE 100: 2.36%

French banks also posted big gains off the news, perhaps on the hope that they could be recipients of an EFSF bank recapitalization plan.

SocGen: 6.09%

Credit Agricole: 2.59%

BNP Paribas: 5.67%

The euro rose 1.10% against the dollar today.

EURUSD1012EUR/USD

Photo: FinViz

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