LONDON (AFP) – European stock markets closed sharply higher on Wednesday after Greek lawmakers approved the government’s latest austerity package, easing the immediate concerns over a debt default.
Dealers noted, however, that the markets slipped back on the news as investors took profits and adjusted positions ahead of a second, equally crucial vote Thursday on implementation of the measures.
They said there was no reason to get too carried away as even if the second vote is cleared, there is a long way to go before a new bailout plan can be agreed to give Greece more time to put its financial house in order.
Most in the markets believe Greece will default at some stage, the only issue being how that is managed to minimise the damage to the eurozone.
A positive Wall Street after better-than-expected US housing sales figures, following strong gains Wednesday, gave European markets support in afternoon trade.
In London, the
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