Tags: EU | Greece | Bailout

Greek Market Cheer after Creditors OK Loan, Eye Debt Relief

Greek Market Cheer after Creditors OK Loan, Eye Debt Relief

Wednesday, 25 May 2016 09:13 AM EDT

ATHENS, Greece (AP) — Greece's government borrowing costs are at a six-month low and Athens stocks are up after international creditors approved a substantial batch of bailout loans for the debt-crippled country.

The yield on the benchmark 10-year bond was just above 7 percent Wednesday. And the main stock index on the Athens exchange was up 0.5 percent in late midday trading.

In a meeting in Brussels that ended before dawn Wednesday, finance ministers from the 19 eurozone countries approved Greece's latest austerity and reform measures, a process that was first meant to have been concluded last October.

That paved the way for the ministers to approve the payout of loans worth 10.3 billion euros ($11.5 billion), in two installments by October, to Greece. They also further discussed how to lighten Greece's debt load.

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Europe
Greece's government borrowing costs are at a six-month low and Athens stocks are up after international creditors approved a substantial batch of bailout loans for the debt-crippled country.The yield on the benchmark 10-year bond was just above 7 percent Wednesday. And the...
EU,Greece,Bailout
133
2016-13-25
Wednesday, 25 May 2016 09:13 AM
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