Analysts at Commerzbank believe that the single currency will remain under pressure ahead of the EU summit schedule on Thursday. In their view, investors will be looking forward to the details of the permanent crisis management mechanisms to replace the transitional EFSF and EFSM programs.

uropeanFinancial Stability Mechanism or EFSM is endowed with 60 billion euro and the European Financial Stability Facility or EFSF has borrowing capacity of 690 billion euro.

At least the German Finance Minister is expecting a decision on the form of the mechanism, which would remove a lot of the uncertainty in the market.



More info about FBS