Newspapers in Greece reacted with measured relief on Thursday after EU leaders sealed a deal to write down debts AFP
Asian markets rallied yesterday after EU leaders stayed up late in Brussels on Wednesday to coerce banks into taking a “voluntary” 50% haircut on Greek government debt.
That has reduced the likelihood of Greece incurring a default on its debt, for now, but many details still need to be agreed between politicians, bankers and regulators. This is a crisis that isn’t going away. That, at least, was the general view coming from research desks yesterday.
In addition to the writedown on...
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