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Game's on if European leaders plan to avoid a crippling meltdown. No recession likely unless Europe's problems cross the pond. ECB to the rescue ?

Six of the world's largest central banks took collective action today to make dollars available at cheaper rates in an effort to shore up the European debt crisis.

The Hong Kong market surged after major central banks acted to help European banks struggling with the region's debt crisis. A drop in Chinese banks required reserves boosted stocks.

Strong bond auctions in Spain and Italy appear to reveal that the European Central Bank's lending program has had success.

Reserve Bank of India Governor D. Subbarao said Thursday the European debt crisis is not expected to impact big on India, yet the central Indian bank is keeping a watch.

As the yields on Spanish and French bonds reach Euro-era highs, American banks were revealed yesterday to have significant amounts of exposure to European debt.

The European Central Bank (ECB) and International Monetary Fund (IMF) stepped up pressure on Germany Wednesday to expedite a bailout for debt-stricken Greece, as signs emerged that Athens may need more money than first thought.

News of easing in China's policy and concerted effort by the Fed and five major world banks combine to produce a big rally today - Great timing.

According to Richard Gibbs of Macquarie Securities reduced crude prices goes in favour of the Indian economy and gives RBI a scope for monetary accommodation Richard Gibbs Global HD, Macquarie More about the Expert Richard Gibbs, Global Head of Macquarie Securities is upbeat on India because he thinks there is room for structural expansion and the demand is much better than anywhere else in the world. According to him reduced crude prices goes in favour of the Indian economy and gives RBI a scope for monetary accommodation. It is also likely to produce some tailwind for the global economy. "It certainly provides latitude on the trade side but also in terms of the inflation side for the economy as well." The house remains a buyer on India. What is the sense you are getting. Are we now facing a fairly big challenge to global growth and therefore are risk assets going to head lower? A: I think the International Monetary Fund (IMF) is articulating that fairly well as we move into the IMF World Bank annual meeting in the next few days. It really is a case where the US is I suppose the best if you see IMF's parlance and that's for investors who have been searching for growth is a disappointment. So, now I suspect we are going to have people turning back towards in search for yield and that has become difficult as well with the expansion in quantitative easing measures around the world but most particularly by the European Central Bank of course. At the end of the day lower crude prices are probably growth positive and the issue there is whether they pertaining further disinflationary pressure/deflationary pressure in the major economies. Certainly for an economy like India, cooling in crude prices is a positive. It certainly provides latitude on the trade side but also in terms of the inflation side for the economy as well. It's a bit of a two-edged sword as I suppose in that sense but overall lower crude prices are likely to produce some tailwind for the global eco

This week's IMF report on risks facing Chinese banks underlines concerns facing China stock investors, but is unlikely to have much effect on stocks prices.

News of a European interest rate cut and the decision by Greek leaders not to put the Europe debt solution plan to a vote triggered a sharp rise in the Hong Kong market.

China stocks in Hng Kong fell sharply after the European Central Bank failed to expand its sovereign debt purchase plan, despite encouraging news of large drop in Chinese inflation.

Euro zone growth will continue to recovery slowly but risks are tilted to the downside due to uncertainty over Britain's referendum on European Union membership and to sluggish emerging markets, the European Central Bank said on Thursday.

Finally, the stock market is getting a boost from Europe as its leaders are acting to head off the dissolution of the EU. DJIA 11,750 (S&P 500: 1214) possible.

The U.S. economy is gaining traction, unemployment rate drops to 8.6%. Europeans may finally agree to a framework to address woes next week - bullish.

Hong Kong lost some early gains when exchanges on the Mainland slumped, but regained momentum to extend Tuesday's rise in heavier trading.

An address by German Chancellor Angela Merkel and reports that unemployment has dropped to its lowest level since March of 2009 helped stocks finish their best week since 2008.

Hong Kong opened higher but dipped into negative territory at the end, partly because of increasing concern about the Greek debt crisis.

An auction of German 10-year Treasury Bonds failed to sell nearly 40 percent of available notes, prompting fears that Germany's typically stable status could be in jeopardy.

An auction of German 10-year Treasury Bonds failed to sell nearly 40 percent of available notes, prompting fears that Germany's typically stable status could be in jeopardy.