European Markets Take A Beating Amid Mounting Doubts About Sunday's EU Summit

Today boded ill for investors betting the EU summit this Sunday will result in a fix to the current crisis.  Accordingly, markets took a beating.

DAX: -2.47%

CAC 40: -2.32%

FTSE 100: -1.71%

Our favourite French banks did even worse, as rumours about haircuts and insufficient bank recapitalizations also take a toll:

SocGen: -7.97%

Credit Agricole: -6.65%

BNP Paribas: -5.33%

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