Fears Stalked The European

The first part of the week will inevitably be dominated by Monday's EU Summit and continuing talks surrounding the Greek debt-restructuring deal. There has been a significant shift in tone and rhetoric from officials and this will be a key theme over the coming week as Euro-zone leaders are now more confident that the contagion firewall is strong enough to cope with an effective Greek default which is encouraging them to take a tougher stance, especially with the dovish Fed tone also still helping to support risk appetite. The Greek government and private-sector creditors have reportedly been on the brink of a deal for the past week, but an actual solution has still not been delivered despite all the talk. Even if a deal between the two sides can be reached, there will still need to be ...

(Reuters) - Oil rose a dollar to around $109 a barrel on Thursday after European officials unveiled plans to tackle the euro zone debt crisis through bond buying, whilst tight supply continued to underpin. Brent crude futures were up 82 cents to $109.21 a barrel at 1012 GMT. They had hit an intraday high of $109.64 immediately after a document was issued explaining how the European rescue fund will be able to buy bonds on the secondary market. The euro also rallied and European shares trimmed losses as fears that Germany and France would be unable to agree a solution eased. U.S. crude oil futures, which expires on Thursday, was up 39 cents at $86.50 a barrel. "There are a lot of 'ifs and buts' in this document but at least they are coming to some sort of consensus," said a trader. "The ...