Prospect of six-month Greek bailout extension sends shares rallying across Europe, as eurozone finance ministers and leaders hold crucial talksEuropean markets rallyGreece submits new proposalsMoscovici: Convinced we’ll get a dealIntroduction: A dramatic day lies aheadThe agenda: Many meetings 9.04am BST News of a fresh Greek proposal have had a “magical effect on the markets”, says Connor Campbell, financial analyst at SpreadEX.The main reason behind the positivity is hope that this latest Greek proposal contains the much needed concessions the country’s creditors have been looking for; described as ‘a good basis for progress’, already these proposals have been received better than the usual ‘insulting’ attempts at reform. After a month of interminable claims and counterclaims from each side, there is a bit of excitement on the markets and the genuine semblance of optimism; now this sentiment just has to last the day. 8.59am BST Insiders in Brussels are making optimistic noises this morning. And that’s significant, as they have now had more than nine hours to digest the latest proposals from Greece: Optimism spreading in Brussels. EU officials: "We´re not at the point where we should be, but we´ll reach it." "Greece is moving." #Greece Continue reading...
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