02/07/12: Europe lives to fight another day

EU: Walking backwards towards integration

Last weeks EU Summit was, in many ways, a surprising success. While the noise going into the meeting was not encouraging, in the end Germany's Angela Merkel 'blinked' and agreed to a variety of measures to spur European growth, protect the Spanish banking system and lower borrowing costs. Markets around the globe are now rallying to the good news, but the road ahead is a long and twisting one. Read more here.