European leaders reached an agreement on centralized fiscal policy. The agreement is supported by all 17 euro zone countries as well as the 9 countries seeking to join the union. England did not approve the fiscal plan. Stock markets reacted positively with the Dow Jones rising 163.44 points.
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http://www.foxbusiness.com/markets/2011/12/09/european-leaders-give-markets-what-wanted/
Jim Sutliff