8 Sep 2012

European share markets continue to rise

7:54 pm on 8 September 2012

European share markets rose further on Saturday in response to Friday's announcement by the European Central Bank on the with the Eurozone economic crisis.

The bank announced it is prepared to buy the bonds of countries in financial difficulties, as long as they accept strict monitoring of their economies.

So far the markets like what they have seen of the offer.

The implied interest rate that Spain would have to pay to borrow money for 10 years has fallen to its lowest level for months.

There has also been a broad welcome from governments throughout Europe.

But the spotlight is now on the countries which may have to ask for help: Spain and Italy in particular.

Both of them are extremely reluctant to accept further external supervision.