At some point, European stock markets will recognize and reflect these numbers, in spite of what the ECB's promise (to provide financial aid through the ESM program) is attempting to accomplish. I seriously doubt that such a plan, without an immediate enaction of supportive fiscal, banking and economic reforms, will be sufficient to prop up sagging European growth in the near-term. At some point, economic fundamentals will matter to the markets, lest further layers become built on to an already-shaky "house of cards" foundation.
