Arab Today, arab today euro bounces stocks steady after greek rescue deal
Last Updated : GMT 07:12:59
Arab Today, arab today
Arab Today, arab today

Euro bounces, stocks steady after Greek rescue deal

Arab Today, arab today

Arab Today, arab today Euro bounces, stocks steady after Greek rescue deal

London - AFP

The euro bounced close to $1.33 on Tuesday, but European stock markets held steady as investors gave a cautious welcome to another eurozone bailout for Greece. In morning deals, London\'s FTSE 100 dipped 0.07 percent to 5,940.87 points and Frankfurt\'s DAX 30 slid 0.06 percent to 6,944.17 points, reversing earlier gains. The Paris CAC 40 meanwhile added 0.08 percent to 3,475.01. Finance ministers sealed an unprecedented deal early on Tuesday for a new 237-billion-euro ($310 billion) bailout that is designed to keep Greece in the eurozone. The euro soared as high as $1.3293 within minutes of the announcement from Brussels, from $1.3185 immediately before. It pulled back to stand at $1.3275 in London morning deals. Luxembourg Prime Minister Jean-Claude Juncker unveiled the deal to \"secure Greece\'s future in the eurozone\" after 13 hours of talks between governments, the European Union, the International Monetary Fund and private creditors. The agreement, greeted with huge if cautious relief by investors around the world, is aimed at avoiding a Greek default, with Athens facing debt repayments of about 14.5 billion euros on March 20. \"Greece has finally earned the second bailout, moving it slightly further away from a default than we were yesterday,\" said broker Jonathan Bristow at Valbury Capital. The deal aims to bring Greek government debt down to 120.5 percent of gross domestic product (GDP) by 2020, a eurozone governmental source told AFP. The figure is just a fraction above the 120-percent target set by the EU and IMF. European Central Bank chief Mario Draghi said it was \"a very good agreement and I welcome the commitments of the Greek government to restoring growth and stability\". Greek Prime Minister Lucas Papademos pronounced himself \"very happy\" at the massive bailout agreed by eurozone partners and private creditors. In exchange for the money, Greece will accept tighter surveillance by the EU and IMF on the ground in Athens, with full delivery and IMF help contingent on Greece enacting deeply unpopular spending cuts and reforms. However, there were voices of caution and reminders that the accord cannot provide a magic bullet for the crisis. Kathleen Brooks, research director at trading site Forex.com, cast doubt on Athens\' ability to meet the 2020 goal. \"Greece has got its bailout so there will be no default on March 20 -- but no one believes Greece will reach a sustainable debt load by 2020, so there could be more bailout discussions down the road,\" Brooks told AFP. \"This is what is concerning markets today. The immediate future may be secure for Greece -- but its long-term position in the eurozone is as precarious as ever.\" Asian shares put in a mixed performance. Hong Kong stocks rose 0.25 percent, Shanghai added 0.75 percent and Sydney won 0.82 percent, while Tokyo slipped 0.23 percent in value. ING analyst Carsten Brzeski warned that the the Greek deal could run into serious problems, citing the need for parliamentary approval in Germany, and probably Finland and The Netherlands as well. In addition, Greece will likely face major problems in pushing through more harsh austerity measures, after the recent package sparked violence on the streets of Athens in which dozens of buildings were set ablaze. \"Greece should be saved, at least for the next couple of months. However, the feeling of relief is not likely to last for long,\" said Brzeski. \"There are still many uncertainties and potential stumbling blocks in the eurozone\'s debt crisis marathon run.\" He added: \"The combination between more austerity, social unrest and European impatience could become explosive, with a high risk that the Greek crisis could still derail.\" Wall Street returns for business later on Tuesday after a public holiday on Monday.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro bounces stocks steady after greek rescue deal Arab Today, arab today euro bounces stocks steady after greek rescue deal

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul

GMT 13:43 2017 Sunday ,19 February

Local institutional buying lifts Oman shares higher

GMT 15:33 2017 Saturday ,18 February

Lock-up shares worth 39 bln yuan eligible for trade

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday