Stock markets rally on Europe's €1.87 trillion rescue plan

As part of a coordinated effort to boost the troubled financial sector, governments across Europe have so far pledged €1.87 trillion to guarantee interbank loans and inject liquidity into the banking system. The effort helped the three-month dollar Libor ease from 4.82% to 4.75% and triggered rallies in the region's stock markets. Japan and Australia followed Europe's lead and unveiled similar plans.

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