Rallies all around! Ze Germans have agreed to something with the rest of Europe!
German lawmakers approved an expansion of the euro-area rescue fund’s firepower, freeing the way for European officials to focus on what next steps may be needed to stem the debt crisis.
The lower house of parliament passed the measure with 523 votes in favor and 85 against, granting the fund powers to buy bonds in secondary markets, enable bank recapitalizations and offer precautionary credit lines. It raises Germany’s guarantees to 211 billion euros ($287 billion) from 123 billion euros
Thailand should continue rallying further tomorrow, I hate the fact that we have to invest based on this versus good ol’ fashion company fundamentals, but hopefully once the issue with Europe is done and dusted (though that may very well take a long time), we can get back to focus on company and industry fundamentals.
I’m curious to see how Gold reacts to all of this though, more liquidity pumped into the system but via Euros instead of Dollars. Lets see what unfolds..