All eyes are on the emergency G7 finance minister conference call tonight with Germany pressuring Spain to take emergency aid to help solve its ongoing banking crisis.
The pressure now seems to be on Eurozone members to agree to give up more fiscal sovereignty as part of a closer European fiscal union.
With the US currently chairing the G7, Obama will be keen for Europe to undertake concerted action to lance the boil of sovereign debt once and for all, allowing confidence to return to global markets.
After the blood bath of May and June, equity investors badly need some good news!
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