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Europe Underwhelms:

I am reading the text to the news release from the Summit. The only thing I can say is underwhelming! Germany has achieved its main aim, defeating French efforts to bulk up the rescue fund by enabling it to borrow limitless sums from the independent ECB. Initial market reaction is muted downside of @.5%.  This represents the belief that this summit is just another plan before the real plan they will have to intact and a return to the drawing board. Euro slips to 1.3852.

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