Welcome back readers! The weekend had its share of fun and spoils for me as the thrill of a win for the Nepal football team was quickly overturned by the mob fury witnessed in the cricket match against UAE. The Nepalese football team had done us proud by winning their match against Bangladesh with an injury time winner. But what developed at the TU Cricket Stadium was a matter of shame for the sports-loving country as the spectators’ hurdled stones at the ground when the match was heading towards a win for the opposition. Having stated the obvious, we unconditionally support our sports team as they endeavor to bring pride and glory towards our sports-crazy nation.

Far from the madding crowd, the markets have entered the week slightly more optimistic that the Euro leaders will finally show the resolve to address their sovereign debt crisis. However, this doesn’t mean a major solution will be announced but analysts are more hopeful that the EU leaders two-day summit ending on Friday, will come out with more concrete steps to stop the threat of a global economical debacle.

In the week gone by, the ECB President signaled the bank could do more to fight the sovereign debt crisis if EU leaders moved towards financial integration. By the end of the week, a solution appeared involving the IMF playing some type of administrative role was emerging. The IMF could also attract new funding to help Europe, giving emerging economies a bigger role in the process.

Across the Atlantic, investors would be looking out for few US economic reports including the ISM services data and weekly jobless claims for detecting market trends. But the biggest source of headline will be a series of meetings and events in Europe as officials work towards the summit. On Monday, the German Chancellor meets her French counterpart to discuss the summit and how to strengthen stability rules to enable European institutions to intervene in national budgets. The US Treasury Timothy Geithner will also be meeting with various officials in Europe ranging from the bank officials from Germany to the French Finance Minister to discuss matters relating to the economic problems confronting the global economies.

It would be interesting to watch the developments as the leaders unite to save the world from another economical fiasco. Investors likewise, will be glued to the edge of their seats as they try to detect market developments for cashing on to such opportunities. The week has just started and the whole picture is yet to be painted!