The major eurozone stock indices were stable on open this morning (October 18th), as the European Union (EU) commences a two-day summit.
High on the docket is the ongoing sovereign debt crisis within the 17-nation single currency region, along with controversial proposals for a banking union within the bloc – which is seen as a game-changing element in restoring confidence in the euro.
Greece – which has remained at the heart of the financial troubles – is bracing for another general strike as the meeting is carried out, which will be its 20th since the debt crisis erupted in the country in 2010.
Leaders are optimistic about this rendezvous – which is taking place as the stock markets are steadier than previous summits – and French president Francois Hollande stated yesterday that the end of the crisis was "very close".
At open, the Dax in Frankfurt rose 0.1 per cent to 7404.0 points, while the French Cac 40 was firm at 3527.8 points – and even the Madrid was robust, gaining by 0.1 per cent to 8138.5 points.
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