European grand plan coming soon

Angela Merkel, the German Chancellor and Nicolas Sarkozy the French President, have a plan to solve the current financial crisis and recaplitalise the Banking system, all before the end of the month.

The fine details are not known as yet but at least there is a plan and markets are expected to open calmer and mildly positive this morning on expectations that at least something is in the pipeline. How Greece is dealt with is at the core of the Eurozone crisis and markets await the solution to what must be a default situation, partial or otherwise, before going forward.