Tag Archives: recapitalize banks

European Bailout Fund- Oct ’11

This October we ran a mission into Europe. This was a crucial time as European Union leaders were about to hold a key summit to deal with the ongoing debt crisis.

The week leading up to  the summit the negative headlines continued, yet the stock markets across Europe rose each day, resulting in the highest market gains in 11 months.

The summit was also very fruitful, a way forward was presented, including: a hair-cut for Greek debt, a €1 trillion bail-out fund, and a deal to re-capitalise the banks.

However, within days of the mantle leaving Europe the optimism evaporated and the deal struck seemed to fall apart as Greece called for a referendum, and investors backed off from contributing to the bailout fund. One partner watching the news, and unaware that the Europe mission had ended and the mantle had returned to America said, “I knew DP was out of Europe, it all just fell apart suddenly, and the hope left.” A sustained presence in a region is essential, Support Prophet TV so we can have a sustained presence in these regions.