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European stocks rise as Merkel, Sarkozy meet

12-06-2011 10:43 BJT

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Well it's only Monday, but already we're looking ahead to Friday, not just for the weekend, but for that all-important European summit that is supposed to yield a breakthrough for fixing the debt crisis. In their first trading session of the week, European shares are mostly higher.

Easing tensions is Italy’s move to unveil a fresh 30 billion euro package of austerity measures. Also investors are hopeful that French President Nicolas Sarkozy and German Chancellor Angela Merkel will find more to agree on when they meet in Paris ahead of that key summit later this week.

France's President Nicolas Sarkozy and German Chancellor Angela Merkel arrive for a
joint news conference at the Elysee Palace in Paris December 5, 2011.

Robert Halver from Baader Bank said: "It will be a very important week this week, the most important week of the year I would say because we have to get rid of the debt problems, we have an EU summit considering the debt problems."

"We have another meeting of Mrs Merkel and Mr Sarkozy and I am very hopeful that both of them are able to get rid of the debt problems. We all know we have to get a solution of the very high and massive debt problem of the euro zone and this week it will be the last chance."

Specialist Bradley Kessler, left, and trader Gordon Charlop, right, work on the floor
of the New York Stock Exchange Monday, Dec. 5, 2011.

Trader George Ettinger works on the floor of the New York Stock Exchange
Monday, Dec. 5, 2011.

Traders work on the floor of the New York Stock Exchange Monday, Dec. 5, 2011.

Editor:Zhang Rui |Source: CNTV.Cn

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