European leaders met over the weekend and hammered out a deal to create a massive €750 million ($1 trillion) bailout fund to prevent the Greek financial crisis from spreading and potentially causing a collapse in the euro. The plan will create a "financial safety net" both to protect other countries facing bankruptcy and also to shore up investor confidence. Will it work? (Watch a Russia Today report about the euro's rescue package)
It has stopped the bleeding: The euro is 1% up against the dollar this morning, and stock markets are on the rise, says Neil Shah in The Wall Street Journal. "Analysts are happy that European leaders are finally getting ahead of the region’s debt problems." For now, at least, the "bold" plan is working.
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