Greece receives second rescue package and escapes default

Source: Bloomberg
Debt-troubled Greece won EUR 130 billion (USD 173 billion) rescue package after EU governments squeezed allowances from private creditors and persuaded investor representatives to give more debt alleviation. The bailout funding will allow Greece to repay debt due March and avoid default. Greece sustained its promise and accepted additional spending cuts valued at EUR 325 million.
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Tue, 21 Feb 2012 07:21:52 GMT

Euro climbs as Greece receives second bailout package

17-nation currency appreciated against the Greenback and the Japanese Yen after European Finance Ministers approved the second rescue package for indebted Greece. Euro added 0.1% against its US peer to USD 1.3254 and strengthened 0.2% against Yen to JPY 105.62. Currently EUR/USD is trading at USD 1.3281 and EUR/JPY is trading at JPY 105.95.

Mon, 20 Feb 2012 19:14:52 GMT

FTSE 100 supported by Greek hopes

British FTSE 100 index traded 0.8% higher on Monday ahead of European finance ministers meeting in Brussels as investors hoped it will result in second bailout package for Greece. Financial and resource shares which are closely linked to economic growth posted major gains. Lloyds Banking Group  advanced 3.2% and Royal Bank of Scotland climbed 3.3%. Miner Rio Tinto soared 2.5%

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