LONDON – Markets were hopeful Wednesday that a long-awaited deal to allow Greece to claim its second bailout was near despite another delay to discussions between the country’s political leaders.
Stocks advanced, while the euro was trading near two-month highs, as investors awaited the latest developments in Athens. Though a host of deadlines have passed without agreement, the prevailing view in the markets is that a deal for Greece to get its hands on euro130 billion ($170 billion) will be secured.
Greek coalition leaders are studying a draft deal on further austerity measures demanded to secure a new bailout that will determine whether the country avoids bankruptcy next month.
The office of Prime Minister Lucas Papademos said Wednesday that the heads of the three parties backing his interim government received the 50-page document, drafted with the country’s debt inspectors, earlier in the day. A meeting of Papademos with the party leaders, originally scheduled for 1100 GMT, was postponed to 1300 GMT to give parties more time to study the draft.
The talks were delayed for three days to make time for exhaustive negotiations with representatives of the European Union, the European Central Bank and the International Monetary Fund, on whose approval the continued flow
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