But while analysts described the move as just what the doctor prescribed to repair investor sentiment, some said worries about the ability of member European countries to slash their yawning fiscal deficits still remain.
The relief rally in Asia came after European finance ministers and central bankers agreed on a new loan program, which could top 750 billion euros ($971 billion), to keep the Greek debt crisis from spreading to other European nations. While European nations will chip in about 500 billion euros, the International Monetary Fund could contribute an additional 250 billion euros. Read full story on the proposed Europe-IMF package.
