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World markets slip after big gains

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World markets slip after big gains

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World and European markets dipped in the wake of big gains following the emergency deal put together to stop the eurozone debt crisis from spreading.

It was always going to be difficult to sustain the initial euphoria seen on Monday, but many investors now appear to see the 750 billion euro bailout as a short, rather than a long-term fix.

The loan package agreed by EU finance chiefs was in response to fears the single currency itself could drown in a tidal wave of debt.

Major question marks now remain on how Europe’s struggling economies will be able to service heavy deficits combined with such low growth. Spain, Portugal and Ireland are particular concerns.