Global financial markets again face a turbulent week, as the latest agreement between European leaders aimed at solving the region’s debt crisis threatens to unravel at a time when traders are nervously watching to see whether the Libor rate-rigging scandal will spread to other major European banks.

Overnight, Italian Prime Minister Mario Monti lashed out at certain Nordic countries, which he accused of sabotaging the decision reached at the recent summit of European leaders to use the eurozone’s bailout fund to help countries such as Italy and Spain, which still faced prohibitive borrowing costs despite implementing tough budget cuts.