Proposed reforms for EU debt crisis, US markets jump 1%

US markets jump over 1 per cent on hopes of a solution to the EU debt crisis as France and Germany propose reforms to control the sovereign debt crisis for the EU region with a treaty drawn for 17 EU nations. On the other hand, growth in the EU region slows, especially German, France, Italy and UK after the purchasing managers index in the bloc has slowed down. Meanwhile, China's services sector has cooled in November to its weakest growth in three months, according to HSBC's purchasing managers index.