Eurozone CDS spreads fall on French-German fiscal deal
Risk perceptions in the eurozone fell today as France and Germany agreed new treaty plans that will sanction fiscally irresponsible member states
Credit default swap (CDS) spreads on sovereigns and banks across the eurozone have declined at the start of what was billed as a crunch week for the single currency, after France and Germany settled on a new fiscal union framework for the euro.
The details of the deal were released after a meeting between German chancellor Angela Merkel and French president Nicolas Sarkozy in Paris today, and might be agreed by the eurozone by mid-March next year – although an end-of-week European Union summit
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