What Economic Recovery? Comments out of Korea and Europe cast strong doubt on any EU recovery

“The leaders have not yet proposed fundamental solutions such as euro bond issuance or the European Central Bank’s intervention.”-Kwon Hyouk-se, Financial Supervisory Service, South Korea 

“The EU summit was widely seen as a new step in the right direction, but the summit deal has many obvious flaws and lacks operational details in many areas. It looks more like a comprehensive fix to the next crisis, rather than a final resolution to the current one.”-Luca Jellinek, Credit Agricole, France