Greece aid package boosts stock markets

windi5 · 1 Greece aid package boosts stock markets Fri Jul 22, 2011 11:16 pm

windi5

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Shares have risen following the eurozone's agreement designed to resolve the Greek debt crisis.

UK and French markets gained more than 1% in morning trading, before slipping slightly, with the FTSE 100 index ending up 0.6% and the Cac 0.7% higher.

Eurozone leaders agreed a new package worth 109bn euros ($155bn, £96.3bn).

Private lenders will also be asked to contribute and, as a result, the Fitch ratings agency said it would consider Greece in "restricted default".

Japan's main Nikkei share index had earlier closed up 1.2%.

US stocks were lower in Friday morning trading in New York, with the Dow Jones index down 0.4%. However, analysts said Wall Street investors were more focused on the US's own debt problems

WILL CSE TOO REACT ON MONDAY?

chamith · 2 Re: Greece aid package boosts stock markets Sat Jul 23, 2011 5:47 am

chamith

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There were talks about making greece default in temp and then start the country in fresh but finally decided to give out a 95£ billion bail out. They even reduced the interest rate n gave more time to repay it back.
the scary part is if Greece default in its credits, thats the end of the Euro Zone. France, UK and Germany are the biggest loan lenders to Greece. IF this happens Banks and Governments will loose lot of money and could even collapse. Today UK reduced its 5.9% interest for Ireland to 3.7% by incurring 500£ Million loss of income per year. Italy, Spain are in the same boat,

It seems like this is the end of Euro Zone.

windi5 · 3 Re: Greece aid package boosts stock markets Sat Jul 23, 2011 8:51 am

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Not only Euro Zone even USA digging its way to the hell. No final decision taken yet, there ware rumors USA was also gonna to default its credits. I think China is the No.1 lender for USA. I dont know the percentage of USAs military budget as against DGP, but in future they have to definitely reduce it as well. Unemployment rate is increasing. these havoc created by that so called credit bubble. Americans used to live with credits, credits cards are very famous. For everything they went to the bank and banks granted them credits without heavy conditions. This is a good lesson even us who is trading at CSE not to depend on credits. Credits are good for strategic investments not for going after rallies . Shocked