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EU Summit: The Devil Will Be in the Detail

Friday, 29 Jun 2012 | 4:00 AM ET

"You have now a relief rally, expectations going into this summit were very low and the short term fixes have surprised on the upside, a lot of the sustainability of this rally will depend on the implementation of these measures," Philippe Bodereau, head of pan-European credit research at PIMCO, told CNBC.