A time for calm and focused solidarity

UNCERTAINTY has shaken share values right across the world, confirming that the agreement reached by European leaders just over two weeks ago was not on the scale needed to stop the crisis generated by eurozone debt.

President Obama’s 11th-hour deal to extend American debt limits added to the downward momentum.

EU leaders focused on Greece but they did not expect the Italian and Spanish economies to become an unavoidable issue so very soon.