Posted by Kim Yap Lau > 2012-07-01 00:20 | Report Abuse

Concerns remain. Most of the measures approved in the Brussels summit will take months to come into force. The €500 billion ($630 billion) firepower of the permanent bailout fund may not be enough. And given how shaky Spain's and Italy's finances are, and how jittery markets are, new roadblocks could send the continent back into crisis. But some key points will kick in within 10 days: On July 9, eurozone countries will agree to give Spanish banks rescue loans and also allow the current, temporary European bailout fund to directly purchase Spanish government bonds. The decision is a victory for Spain and Italy, whose borrowing costs have risen to near unsustainable levels despite their efforts to cut government spending and reform their labor markets. .............. Some analysts, however, noted that the size of the bailout funds some €500 billion would have to be increased to be a realistic backstop for public debt and banks across the continent. Italy alone has government debt of €2.4 trillion. Full article : http://adf.ly/ADmOr How you think???