EU leaders agree to Greece bailout

clock

European leaders have reached an agreement to bailout Greece, which is suffering from a huge debt crisis.

At midday today, EU President Herman Van Rompuy confirmed a deal had been struck between the EU's largest countries, Germany and France, and the Greek government to provide a financial support package. The European blue chip Dow Jones Euro Stoxx 50 index rose six points, or 0.2%, while the FTSE index of UK shares was up 0.8%. The yield on Greece's two-year sovereign debt fell by 0.54% on the news, to 4.92%. German chancellor Angela Merkel told Bloomberg: "Greece won't be left alone, but there are rules, and these rules must be adhered to." Greece has seen its deficit hit 12.7% o...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read
Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read