The new Greek government gets an early vote of confidence from the financial markets and the Italian senate approves austerity measures.
The ECB may support the Italian securities by purchasing the 10-years notes, thus applying a downward pressure on yields.
The Stoxx Europe 600 climbed 1.3% as all 19 industries advanced. Some of the major European banks climbed 4%. The euro has gained against some other major currencies, including the dollar.
Republicans candidates have called for the U.S. to remain clear from the euro crisis. In fact, a worsening euro crisis would have very serious effects on this side of the pond and any attempts to ignore that reality can have serious effects for the U.S.
Financial markets and economies of the United States and Europe are very interdependent.