European stocks are staging a major rally this morning as European finance ministers meet in Copenhagen.
They are discussing a raise in the bailout funding available for constructing a firewall around Greece and preventing worries from spreading into fragile economies like Italy and Spain.
In Spain, Prime Minister Mariano Rajoy is also preparing to unveil “the most austere budget since before the nation’s return to democracy in 1978,” according to Bloomberg.
So far, markets (particularly in the European core) are taking both events as a positive—the German DAX and French CAC 40 are leading the way, up 0.94 per cent and 1.1 per cent, respectively.
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