Monday, May 10, 2010

EUROPE'S giant rescue fund is just like morphine for the markets:
Marek Belka, the International Monetary Fund's chief representative for Europe, said the 27-nation bloc ought to seek long-term solutions to ensure financial stability.

"What has happened last night gives a little bit of relief for the Europeans. It has potential for calming down markets," Belka, who took part in the ministers' meeting, told a World Economic Forum conference in Brussels.
"Don't treat it as a long-term solution. It is a kind of morphine that stabilises the patient. Real treatment has yet to come.