European stock markets are showing resilience after the US House of Representatives rejected a 700-billion-dollar bailout plan for the financial markets on Monday.
Indices in Europe have reversed opening losses and for the most part are in positive territory following a seven percent drop in New York after the bailout rejection. The question in Washington is now how to move ahead. President George W. Bush said the White House would continue to push for the bill's passage. Treasury Secretary Henry Paulson said Congress must act fast, saying world markets are "under stress." The Senate reconvenes on Wednesday and the House meets again on Thursday to find a rescue package solution.
(Deutsche Russia says Europe in new arms race ...
Most Czechs think politicians behave in non-democratic way-poll ... Welle)
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