Excerpt:
European leaders are facing an uphill battle to restore confidence in the euro, after a €750 billion ($1 trillion) "shock and awe" financial rescue package failed to quell market fears that the sovereign debt crisis in Greece may spread across the European Union and possibly unravel Europe's single currency. Although European stocks and bonds briefly rallied after the bailout fund was announced on May 10, European markets have since erased those gains and the euro, which has become a key indicator of confidence in Europe's economy, has fallen to a four-year low against the U.S. dollar.