Precious metals react mildly to news from Brussels.
(1888PressRelease) December 12, 2011 - MIAMI, FL - Precious metals[/url] bounced back a little this morning following the outcome of an all-night meeting of European leaders in Brussels. Ironically, the meeting took place on the twentieth anniversary of the birth of the common currency. To date, 17 of the 27 member countries have bought into the euro.
The agreed plan promises tougher measures and a tighter fiscal pact but the 10 non-euro members of the European Union will likely strongly resist the idea of any other government concerning itself with their national budget. UK Prime Minister David Cameron has stated definitively that he will not support the pact without a UK power of veto over any future financial regulations. Other non-member countries may choose to act likewise.
Goals have certainly been set but achieving them may prove more difficult. The main positive outcome of the meeting was the promise of an additional 200 billion euros to the rescue fund. Pressure was also put on the European Central Bank to assist countries like Italy and Spain by buying bonds.
Opinion is divided as to the efficacy of the plan, assuming even that the proposals are enforceable. European leaders have set a deadline of March 2012 for implementation.
"The outcome of the talks in Europe is not a great surprise but it remains to be seen how effective the proposals will be and whether goals will be attained," says Bill Hionas[/url], CEO of Pan American Metals of Miami. "As far as precious metals bullion[/url] is concerned, we have seen a small corrective bounce following the news from Brussels."
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Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Debbie Bailey
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Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
Precious metals react mildly to news from Brussels. 
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