Report: Greek Deal Done, Statement Coming Shortly - Wall Street Examiner Forums and Bears Chat

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#1 WorkingPoor

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Posted 09 February 2012 - 08:29 AM

The FT's Kevin Hope is reporting that the Greek agreement with the troika has finally been concluded, and that the details of that agreement will be announced shortly.

From the report:

An official in the prime minister’s office says: “There’s an agreement, Mr Papademos has met with Mr Samaras and it’s done. There will be a statement shortly.”

Troika officials have been demanding steep austerity measures as a prerequisite to the disbursement of the newest Greek bailout funds.

Greek politicians had resisted that decision, fearing those cuts would bite into an already contracting economy and escalate social pressures. One of the most vehement members of that opposition was New Democracy leader Antonis Samaras.

Futures are now positive in the U.S. and the euro is rallying against the dollar.

Read more: http://www.businessi...2#ixzz1ltItLmFJ