The Fed pledge to maintain interest rates closure to zero for another two years may ease the tired US markets which have reflected losses of more than 6%, on Monday. However, during the last night, it maintained its main interest rate on a lower level at 0-0.25% and expressed enthusiasm to keep "exceptionally low" rates "at least through mid-2013”.

On the other hand, the Australian share market staged a stunning turnaround yesterday, soon after dropping more than 5%, subsequent to opening, where shares staged a strong rally to end the day about 1% higher.

During a conversation with Onda Cero radio in Spain, the Finance Minister, Elena Salgado, notified that the Eurozone would undoubtedly meet on the financial crisis in early September. Meanwhile, the ECB President, Jean-Claude Trichet, has stressed that government must cut public deficits as well as needs to restore sound finances.

"Growing concerns about France's fiscal position have underlined the breadth of the eurozone's debt crisis”, commented a Senior Economist at Capital Economics, Jennifer McKeown. "A credit rating downgrade would significantly hamper policymakers' ability to provide crucial support to the eurozone's periphery.

Meanwhile, the US President insisted that the United States "always will be a triple-A country”.