Markets rise on talk of solutions

DETERMINED talk regarding a firm set of Franco-German solutions to the eurozone debt crisis had investors breathing easier yesterday and international stock markets rising.

Emerging from their latest policy meeting, French President Nicolas Sarkozy and German Chancellor Angela Merkel vowed to act with “lasting and quick responses before the end of the month”, united on their plans to stabilise Europe’s banking sector and counter the debt crisis.

That determination was echoed by EU President Herman Van Rompuy, announcing that he was postponing this month’s EU Summit from next week until October 23 to allow eurozone leaders finalise the “comprehensive strategy” to fix the region’s debt problems.