Markets calm down as talk of EU rescue for Greece emerges

02/10/2010 | Financial Times (tiered subscription model) · NYTimes.com

Equities, commodities and even the euro strengthened across the globe as markets turned more optimistic about the prospect of the EU taking decisive action on Greece's sovereign-debt crisis. The mood started turning positive when traders learned that Jean-Claude Trichet, president of the European Central Bank, will cut short his participation in a high-level meeting in Australia to participate in a special EU summit Thursday. "There is nothing like a change in a VIP's travel plans to excite the imaginations of market participants," said Stephen Lewis of Monument Securities.

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Financial Times (tiered subscription model) · NYTimes.com

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