As a result, market volatility will continue until there are some signs that the EU is finally getting its debt crisis under control. And the betting is now that it could take months or more for the situation to get resolved.
"Even if the Europeans come up with something very robust that shows they're going to try to deal with the crisis, this is going to be a long slog," says Bill Isaac, head of financial institutions practice at FTI Consulting in Vienna Va. "The problem is a bunch of countries are way overextended and somebody's going to have to take some losses."
A continuous torrent of vague, conflicting headlines has dominated the crisis, with Thursday offering more of the same.
Have France and Germany agreed on a bailout amount? How much will banks need for recapitalization after a Greek default? Is Italy really the problem and will a "Bazooka Bank" be needed to buy up all the risky debt in the euro zone? Read More at CNBC
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