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all propping up markets with well inoculated plans that would ease the extreme tension in markets in addition to unfreezing the cash which was restrained in the past month.

After all the meetings that has been taken place between European Officials they finally had reached to a mutual decision by creating a fund that could salvage the economy from a potential failure, each one of them setting the amount of money needed to support their economy, so finally they got to a 1.3 trillion euros needed to bailout the banking system. The European were glad that after all the pressures the European official was convinced that this plan was needed, the DJ Euro Stoxx surged higher with more than 10% and the increasing appetite to risk had pushed the Euro against the US dollar.

Germany demanded 400 billion euros in order to supporting the lending facility between banks, setting aside part of this money just to plaster some of the existing losses, as they would use other portion of the cash to buy preferred stocks from the defaulted companies. While the France plan demanded a total of 320 billion euros, at the time France was one of the European economies that supported the banking system without the need of a full approval. The Spanish is going to guarantee a total of 100 billion euros, but non like others the government authorized any purchase of shares in the defected banks.

Across the ocean, an Excellent performance was obvious in yesterday's US trading session even when the Americans were enjoying the Columbus day, Dow Jones Industrial Average jumped an overall of 11.08% or 936.42 points to close at 9387.61 levels; S&P 500 index also surged 11.58% or 104.13 points to close at 1003.35 levels and finally NASDAQ Composite inclined the most with 11.81% or 194.74 points to close at 1844.25 levels.

This optimism diffused today to Asia; Asian stocks surged earlier today, with Nikkei Index surging higher to more than 14% to reach unprecedented levels boosted by the confidence which was retrieved, also the Hang Seng Index rose 4.39% reaching to 17027.83 levels.

A leak of the feds 700 billion dollar plan took place, now the US government gave nine banks the opportunity to accept help from them or not, on the list they had Goldman Sachs Group, Citigroup, and Wells Fargo & Co, JP Morgan Chase & Co, Bank of America Corp., Merrill Lynch & Co, Morgan Stanley, State Street Corp and the bank of New York Mellon, the intended money to inject varies between banks depending on the level of performance and the need of cash, such 25 billion dollars will be divided between Bank of America and Merrill.

Though a full plan will be released later today, when Mr. Paulson will come out in a press conference to talk in details about the plan and what are the suitable steps which will be taken later on, on the other hand today our calendar lacks any important fundamentals as we just have the treasury budget where we will witness an enormous narrow in the surplus from 112.9 billion dollars to 45.0 billion dollars in September.

More details will be released, so my dear reader let's wait to see what Paulson will add today in his plan and what are the steps taken.