European shares and the euro are moving sharply higher now. ECB chief Trichet's apparent green...

|By:, SA News Editor

European shares and the euro are moving sharply higher now. ECB chief Trichet's apparent green light for Greek default could be the reason as this means the bank would continue accepting the country's paper as collateral, thus preventing an implosion of Greece's banking system. Stoxx 50 +0.7%.