July 22, 2011
It was a surprisingly big step forward. But this week’s bolder-than-expected plans to deal with the eurozone debt crisis have not gone far enough.
This verdict from some of the world’s biggest investors puts into perspective the sharp market rally, sparked by the second Greek bail-out agreed in Brussels on Thursday.
It also underlines the risks of more market volatility and sell-offs as details of the €109bn rescue are digested over coming days.