The equities markets have turned in better performance since European Central Bank (ECB) president Mario Draghi announced he would do whatever it takes to save the euro.
Europe is also making significant progress toward its goal of creating a unified bank oversight program led by the ECB and it recently released more aid for Greece to keep the country afloat.
Meanwhile, finance ministers in Germany and France are in disagreement over the particulars of the oversight program, making trading in the euro range bound.
The possibility that the euro will collapse is still real, although much more remote.
The debate over the banking union will carry over into the New Year but investor confidence has grown with each step in the Eurozone’s progress toward addressing  long-term fiscal issues.

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