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Markets open up after EU plan to support euro

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Markets open up after EU plan to support euro

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Europe’s markets have given an initially positive reaction after the EU’s massive multi-billion euro bailout to protect the single currency.

Paris and Frankfurt both opened up following news of the 750 billion euro rescue package.

London’s FSTE also rallied despite continuing political uncertainty in the wake of its inconclusive general election result.

It’s hoped the latest deal will now calm investor concern that Greece’s debt woes could spread to the eurozone’s other struggling economies, notably Portugal and Spain.

Finance ministers thrashed out a deal in time for markets, with fears the euro itself was at stake.