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Saturday 16 December 2017

DEBT CRISIS

Markets optimistic on latest Greece bailout

GLOBAL markets are showing signs of optimism that eurozone officials will soon approve a long-awaited bailout for Greece.

Investors are hoping that the embattled country has finally done enough to secure a second bailout package worth €130bn.

Athens has set out extra budget savings demanded by its international lenders.

The risk of Athens missing a March 20 deadline to pay a €14.5bn bond redemption payment appeared to have eased after a spokesman for the Greek government said that the country expects to begin a debt swap scheme with private bondholders. Sources also said eurozone central banks had agreed on a Greek bond swap.

The optimism sliced through a mood of deepening acrimony between Athens and northern states in the 17-member currency union and came only after one proposal to withhold part of the bailout until after Greek elections in April had been dropped.

"We are almost there," one eurozone official said.

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