30th July 2012
Stockmarkets around the world have risen on the back of the European Central Bank's (ECB) pledge to "do whatever it takes" to save the eurozone from collapse.
The FTSE 100 was up by nearly 1.4 per cent at the close of trading yesterday (July 26th) thanks to ECB president Mario Draghi's announcement.
His insistence that the single currency will survive has lifted much of the gloom that has surrounded the eurozone in the past few months.
Greece, Cyprus, Italy and Spain have been in the headlines the most because of their struggling banking sectors and a lot of investors have been wary of taking on assets across the continent.
According to the International Business Times, The ECB's commitment to support the eurozone also had a positive impact on Japan's Nikkei, which has risen by 1.4 per cent today.
Despite the upturn, there are still concerns that Greece could be on the brink of pulling out of the single currency, as the country's leaders warned that its economic recession is much worse than many people realise.
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