The euro crisis stems in part from countries like Greece not collecting taxes on a sizeable 'shadow' economy. These off-the-book activities need to be brought into the light of legal, taxable commerce.
The European Central Bank's announcement today expressed a willingness to prop up the bond market but without providing any specifics on how much it would spend, for how long, or starting when, dashing expectations that the continent had unified around a remedy for the eurocrisis.
A rare double dose of good news about the US economy sent stocks surging up Wednesday. The Dow Jones industrial average rose 92 points, contributing to a closing bell tally of 12,627, despite continued fears about the eurozone crisis.