Something had to be done though the markets are now absorbing the enormous costs including more credit debt. Paying off the old debt has perhaps somewhat easier though it still has to be paid. The euro-bears are holding firm on their forecasts of a declining euro and as of this morning, the euro is back to where it started Monday morning before the trillion dollar injection. EU finance ministers will need a steady supply of Rolaids until this settles.
The emergency plan -- the biggest since G20 leaders threw money at the global economy following the collapse of Lehman Brothers in 2008 -- impressed markets with its sheer size and sparked a spectacular rally in world stocks and the euro.
Yet financial markets turned cautious when they reopened for business in Asia on Tuesday, with investors concerned that the plan was not a long-term solution to problems plaguing the 11-year old single currency area.
