A $1 trillion global emergency rescue package to stabilize the euro reversed the slide in world financial markets on Monday but left longer-term questions about whether Europe's weakest economies can manage their debt. The plan, hammered out by European Union finance ministers, central bankers and the International Monetary Fund in weekend negotiations, was the biggest since G20 leaders threw money at the global economy following the collapse of Lehman Brothers in 2008, Reuters reported. "We have closed ranks to save the euro," French Finance Minister Christine Lagarde told Europe 1 radio after the 11-hour meeting in Brussels ended in the early hours of Monday as Asian markets opened. The "shock and awe" scale of the package of standby funds, loan guarantees, liquidity measures and central bank bond purchases surprised financial analysts and the euro rose some 2 percent, while stocks in Europe and Asia firmed.
