Europe's policymakers decided to establish the European Financial Stability Facility to help struggling euro-zone members, but market participants and observers are split on whether the fund will succeed. Mark Austen, managing director at AFME, is optimistic about the facility. "The body may be the step in the direction of more fiscal union, possibly the creation of a common European bond," Austen said. "Out of the ashes, this could lead to a stronger euro and more stability in the euro zone."
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