BBC News with David Austin
At the end of a
volatile
week on global stock exchanges, shares in Europe and the United States have ended the day higher. European bank shares halted their slide after regulators in France, Italy, Belgium and Spain
temporarily
banned some short selling, a practice that allows traders to profit by gambling that a stock price will fall. But as Theo Leggett reports, it's unlikely to be the end of the matter.
After several days of turmoil, share markets in Europe have closed on a high note, having recovered much of the ground lost earlier in the week. But while that may have calmed the nerves of traders, the
turbulence
on the markets has
merely
been a reflection of wider concerns about the economic situation in Europe and the United States. Those concerns remain with renewed fears that European banks could lose the confidence of investors and struggle to fund themselves now taking centre stage. If that were to happen, Europe could face a new banking crisis. Against that
backdrop
, analysts say the markets are likely to remain unsettled for
some time
.
The Italian cabinet has approved an austerity plan to improve public finances and reduce the nation's budget deficit. Twenty billion euros will be cut from government spending next year, and another 25 billion in 2013. The plan
set out
a wide range of measures including what is termed a "solidarity tax" on high earners. Regional and local authorities will also receive less funding from Rome.