The agreement of the euro on a second plan of the Greece rescue heavily indebted countries has received a positive response in the financial markets. German stock index (DAX) opened on the Frankfurt Stock Exchange with a slight increase of 0.25% to the value of points 7308 and works more to the top. The French CAC 40 index rose 0.95% for the introduction on the stock market in Paris, the London Stock Exchange opened with 0.66% in the most.
In the Italy debt relief turned more clearly: the stock market in Milan placed at the beginning of the negotiation of 1.3%. The euro rose pending on 1.44 dollars. Exchanges outside Europe has reacted positively to the Brussels Convention. Trade closed with a percentage of 1.22 Tokyo, Sydney with an increase of 1.09% and trade in Seoul ends with 1.11% in the most. Participation of the State in a European to be created credit rating agency, however, rejected the Federal Finance Minister Wolfgang Sch?uble (CDU). “Only a State rating independent agency would be the views to be accepted by the market,” Sch?uble wrote in an article in the guest for the “tageszeitung” based in Berlin. We talked but also in principle for the establishment of such an agency. It would be a step towards the “great competition in the credit rating industry.” Sch?uble has warned investors to rely on the Agency. “The financial crisis and the current debt crisis have shown that blind faith of the participants in the market on the assessments of rating agencies is not justified,” Sch?uble writes in the “taz”. Reviews of agencies are “ultimately subjective assessments,” which are “not always free of conflicts of interest”. German Chancellor Angela Merkel (CDU) has recently proposed the creation of a European credit rating agency. So far the U.S. agencies dominate, but China is now a its own rating agency. Late Thursday night, the countries of the euro on a second rescue of the Greece plan has reached just under EUR 159 billion. The private sector to contribute to 49.6 billion euros. “This success we hard.” “This are depreciation of 21% on the Greek positions,” said Deutsche Bank Chief Josef Ackermann. “However we were aware that in Germany, there will be hardly possible to package by the Parliament, without having the private sector is involved.” According to the German Banking Federation, nor should be a unique case. Participation is limited to the Greece and has been “no blueprint for future emergencies”, the Executive Director of the Association of banks, Michael Kemmer said. He warned that the practical implementation of the participation of creditors on the aid package could “cause some uncertainty in the markets.” Therefore a “rapid, however prudent development of retail”, has been called Kemmer.”.”
