Wall Street Opens Higher

Reuters have reported that the Wall Street opened higher today after euro zone finance ministers agreed to a faster bailout of Spanish banks.

There was also optimism that Germany’s top court would approve the euro zone’s new bailout fund. The German Constitutional Court will consider whether Europe’s new bailout plan and budget rules are compatible with national law in a process influencing not just how to tackle the euro zone debt crisis, but how much deeper European integration can go.

Wolfgang Schaeuble, Germany’s finance minister, told the court on Tuesday that any significant delay in approving the permanent bailout fund could fuel financial market turbulence.

The agreement by the finance ministers and the optimism about the German court helped Spanish bond yields back off the 7 percent level, which has forced other countries to seek a bailout.

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