By Matthew Kerkhoff
The Greek standoff may be coming to an end, with Greece’s creditors claiming the upper hand. Over the weekend Eurozone leaders unanimously agreed to give Greece up to $96 billion in new bailout loans, provided Tsipras immediately implements daunting austerity measures.
By Wednesday, Greece must pass pension overhauls and sales tax increases, two items that are heavily out-of-favor with Greek citizens.
Whether the deal holds largely depends on getting the measures passed through Greece’s Parliament.
Markets globally are embracing the prospect of a deal, evidenced by rallies everywhere. And while it’s comforting to see green across the board, we must remain cautious and watchful. This is by no means a done deal.
China’s market was up overnight, but don’t put much faith in China’s stock market as an indication of anything. It’s a mess over there.
On Friday, the China Securities Regulatory Commission (CSRC) disclosed that it had required all listed firms to provide ... Log in or subscribe to continue reading.