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EU Pledges Details to Come on Plan

Many decisions remain, including how to leverage rescue fund.

By James G. Neuger and Simon Kennedy | Updated on October 27, 2011

European leaders bolstered their crisis-fighting toolbox with a plan that may generate only limited relief for stressed sovereigns unless it can be fleshed out within weeks.

“It remains a deal long on intentions and short on details,” said Jens Larsen, chief European economist at RBC Capital Markets in London. “Until we know how the mechanisms will work, it will be hard to judge whether this will be sufficient to entice investors to provide support to European governments.”

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