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CNBC Worldwide Exchange June 29, 2012



okay. welcome to the program. plenty to get through at the top. we did say two days ago we said there was no expectation this summit may be long because the only way was up. maybe we would exceed them. people are getting some clarity on this overnight and the wee hours of the morning. now we have a chance. the question this morning is it anything more than an utter relief there wasn t complete break down and discord. it does seem, though, italy scored two victories over germany last night. that was almost as extraordinary as what happened potentially at the eu summit. eu leaders have made a break through on measures stabilize the bloc. cash from the regions permanent bailout fund will be used to help recapitalize countries. officials indicated any loans used to recapitalize spanish banks meanwhile will be given senior status. both the esm and esff can buy the debt. mario monti hailed it as an achievement. translator: countries that would like to take advan ....

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