Greek bailout hopes: Stock markets gain


European stock markets were advanced before a meeting of euro zone economics ministers that many hopes will finalize a new post security for Greece. In last year the euro zone set up a bailout fund to try to contain the crisis from spreading to larger economies such as Italy, and also agreed a second bailout worth 130bn euro’s. 



Measures passed by parliament last week set out 3.3bn euro’s worth of cuts to salaries and pensions, and health and defense spending, which has provoked violence in the streets. Greek stocks lost 52% of their value last year. Greece's stock market was also higher. It rose 3.4% last week - its fifth week of gains - on renewed optimism of a bailout.

No comments:

Post a Comment