Articles - Eurozone crisis update - Done deal

 Please click the link for an update from Schroders’ European Economist, Azad Zangana, on the Eurozone crisis.

 
 In summary:
 • These are very positive steps in the right direction which re-enforces our view that European politicians are willing to take unprecedented action to keep the European Monetary Union together.
 • Overall, there are a lot of details still missing from the plan, though we are encouraged that European politicians are moving in the right direction. The deal should help reduce the volatility in financial markets, though the damage may have already been done to the real economy.
 • We expect the Eurozone economy to slow significantly by the end of the year, though the deal done may have helped avoid a second global credit crunch and a very deep recession.