09 Dec 2011TOKYO — Asian shares, commodities and the euro fell on Friday on growing doubts that European leaders can forge a credible borrowing scheme to tackle the euro zone’s debt crisis at a summit in Brussels.
Losses accelerated and the Australian dollar, a bellwether for investor appetite for risk, dived after EU diplomats said it had been agreed that a new permanent bail-out fund would not have a banking licence, meaning it would not be able to borrow from the European Central Bank (ECB).
The euro and the Aussie then pared some losses after the leaders said the euro zone planned to make available up to €200bn to the International Monetary Fund to beef up its resources.
http://www.businessday.co.za/Articles/Content.aspx?id=160852
