Wednesday’s announcement that a deal had been reached by the European Union members does not end the debt crisis. At best, some immediate uncertainty has been addressed. But without more information on the details, including how the announced actions will be implemented and, most importantly, who will actually pay for them, the crisis is far from solved.
Nevertheless, the markets clearly approved the Greek debt deal and stock prices have risen sharply. At this point, investors are eager to latch on to even the slimmest glimmer of hope that legislators have finally set the eurozone in the right direction. Have they?
Read more: Christian Science Monitor
