Has Europe Risen To The Challenge?

This is a bit out of date now, as it seems like the market has more or less digested the ECB rescue package and deemed it "good enough ... for now".

After seeing punishing increases in interest rates, declines in the euro and chaos in the equity markets in response to slow and unsteady action on Greece, the ministers of the European Union decided to try to get ahead of the next round of worry and launch a massive liquidity measure for its members. The announced package immediately sent the euro higher along with equities of all stripes, but especially those exposed to the financial chaos in Europe.

What HappenedEarly on Monday morning, the finance ministers of the EU announced an enormous liquidity package designed to restore faith in the euro and the solvency of its members. The three-part program is worth almost $1 trillion and it consists of 60 billion euros in loans, 440 billion euros in future loan guarantees and as much as 250 billion euros in funding from the IMF.
  
The full column can be read at: http://financialedge.investopedia.com/financial-edge/0510/Has-Europe-Risen-To-The-Challenge.aspx