by Associated Press Markets rebound on softer Greek approach to debt forgiveness Associated Press - 3 February 2015 05:11-05:00 ATHENS, Greece (AP) — Greek stocks are leading a European market rally on indications that Greece's new radical left government is advocating a more palatable version of its brash demand to have most of the country's debt burden forgiven. The Athens stock exchange was up 7 percent in morning trading Tuesday, while the Euro Stoxx index gained 1.5 percent. Markets were responding to comments by Greek Finance Minister Yanis Varoufakis, who said the government would, if necessary, use debt "engineering tools" to make Greece's 320 billion-euro debt mountain viable. The Financial Times reported that during a visit to London Monday, Varoufakis suggested exchanging Greece's debt to its bailout creditors with growth-linked bonds. That would mark a less confrontational approach to creditors than the eight-day-old government's previous insistence on a flat debt write-off. News Topics: Business, General news, Government debt, Sovereign debt, Government finance, Government business and finance, Government and politics, Debt and bond markets, Financial markets People, Places and Companies: Greece, Athens, Western Europe, Europe Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
 |
| READ THE ORIGINAL POST AT www.neurope.eu |
