European Stocks Rise Offering Hope to Greece’s Eurozone Status
European stocks rose today, granting investors a bit of confidence that Greece can achieve an agreement with its global lenders to remain in the eurozone.
Hopes were further enhanced with a soar in Chinese markets, that resulted in higher European mining stocks. Financial experts stated that concrete revamping bids from Greece may result in monetary relief.
European markets stabilized after experiencing dips, as the nation asked for a new three-year bailout from its eurozone creditors. However, a mutually agreeable solution relies on Prime Minister Alexis Tsipras to renegotiate tax figures, pension slashes, and additional austerity efforts.
Deutsche Bank Equities Managing Director Nick Lawson stated to the Wall Street Journal, "European markets simply seem relieved that a finish post to the Greek negotiations is in sight."
The banking expert added, "We have clearly had so many false dawns that only seeing will be believing, but there is a growing sense that this weekend is binary; take more austerity or leave."
Jupiter Asset Management Global Equities Chief Stephen Mitchell commented, "The foundations under the recovery have been quite good. I don't think Greece is going to derail that."
Earlier this week, Greek and Chinese occurrences had the international markets concerned that worldwide growth would be constricted. Currently, Greek banks and the stock market are closed.
(Source: Wall Street Journal)
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