GERMANY: German DAX index opens 0.3 percent higher after EU leaders agree on a roadmap for the future of the currency union

Record ID: 862277

  • Title: GERMANY: German DAX index opens 0.3 percent higher after EU leaders agree on a roadmap for the future of the currency union
  • Date: 15th December 2012
  • Summary: FRANKFURT, GERMANY (DECEMBER 14, 2012) (REUTERS) VARIOUS OF FRANKFURT STOCK EXCHANGE EXTERIORS PAN ACROSS FLOOR VARIOUS OF TRADERS WORKING ON COMPUTERS ROBERT HALVER, TRADER WITH BAADER BANK IN DISCUSSION HIGH SHOT OF TRADER (SOUNDBITE) (German) TRADER WITH BAADER BANK, ROBERT HALVER, SAYING: "The EU paved the way although there are no great future plans yet regarding the European Union. But at least the problems have disappeared from the crisis radar and that's already not bad at all for the markets. However, we have another problem and that's called fiscal cliff. It should be carefully avoided." DAX BOARD (SOUNDBITE) (German) TRADER WITH BAADER BANK, ROBERT HALVER, SAYING: "You know, the Americans are the masters of Hollywood classics and theatrics. But I still hope that before Christmas, they will find a compromise, even if it only means extending the whole thing by another year. But after four years of massive financial and monetary support by the United States it would be fatal to allow this compromise to fail." DAX BOARD VARIOUS OF TRADER WORKING ON COMPUTER WIDE OF DAX BOARD HIGH SHOT OF FLOOR
  • Embargoed: 30th December 2012 12:00
  • Keywords:
  • Location: Germany
  • City:
  • Country: Germany
  • Topics: Economy,Politics
  • Reuters ID: LVA9GUR702ODIGQVAKMJCL0TXQOX
  • Aspect Ratio:
  • Story Text: Germany's DAX index opened 0.3 percent higher on Friday (December 14) after the European Union agreed on the future of the currency union overnight.
    "The EU paved the way although there are no great future plans yet regarding the European Union," said Frankfurt trader Robert Halver of Baader bank.
    "But at least the problems have disappeared from the crisis radar and that's already not bad at all for the markets."
    Halver warned of "another problem and that's called fiscal cliff. It should be carefully avoided."
    "The Americans are the masters of Hollywood classics and theatrics. But I still hope that before Christmas, they will find a compromise, even if it only means extending the whole thing by another year," said Halver who predicted that a failure to reach a compromise would be "fatal."
    Some two and a half hours into trading, the DAX was at 7,600 points, an increase of 18 points or 0.25 percent.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2012. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register