At long last, Angela Merkel and the EU have conceded the Continent's troubles. Ms. Merkel has promised fiscal stimulus and Brussels has relaxed rules on state aid, which will allow companies to receive grants and loans. This, on top of the Fed's zero-interest policy, appear to be buttressing the beleaguered Euro. The UK is now considering a similar policy of lending directly to companies.
Europe Stirs
Angela Merkel has promised fiscal stimulus and Brussels has relaxed rules on state aid, which will allow companies to receive grants and loans.
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