European Stocks Markets outlook feb 21 2012

European Stocks Markets outlook feb 21 2012 : Global markets are on pause mode as they await a concrete Greek bailout package. Expectations of a second Greek bailout package left global markets hanging on Monday. US and our market remained shut due to public holidays.

In Europe, markets ended higher on expectations that Greece will get its second lease on life, courtesy the troika (EU,IMF, ECB).

All eyes are on Brussels where 17 EU finance ministers are edging closer towards approving a second bailout deal for Greece. However, there is no final decision yet and there are doubts over the sustainable debt level for Greece.

Reports suggest that both sides have closed in on a debt/GDP target of 124% by 2020. The outcome of the meeting will be announced in a press conference in a couple of hours.

Robert Prior Wandesforde of Credit Suisse thinks the fear is that by allowing Greece to default obviously sets the market thinking who is going to be next. "The whole thing just spirals downwards but at the end of the day it's becoming clearer that this is going to unfortunately be the end result that they are pushing the 'can down the road."
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