Greek Conference Call Over, Stocks Rallying On Headlines About Greece Being Close To A "Deal"

Evangelos VenizelosGreek finance minister Evangelos Venizelos

Photo: AP

Update: Some headlines coming right now from Fin Min Venizelos indicate that Greece is close to a deal for the next tranche of aid from the Troika.Bear in mind, this is far from anything as there’s still more to be worked out, and there’s still another call tomorrow.

Even if they do to agree to something, it has to be agreed to by the full Greek cabinet.

Stocks are off the lows, as they say.

The NASDAQ is off just 0.4%.

At one point it was off 2%.

Meanwhile, check out Morgan Stanley’s prediction for how this is going to play out >


Original post: Previously there were headlines to the effect that there would be no statement from Greece after its call with the Troika today.

Now it seems there will be an announcement.

Says Greek reporter Matina Stevis on Twitter: “I’m hearing higher numbers of public servants to be put on “reserve”, more lay-offs than previously agreed, mostly further cuts on expendit.”


“I’m hearing: more public-sector workers to be put on “reserve” from 50,000 to 85,000 (means they get 60% of salary) #Greece”

Most importantly, perhaps: They’ll keep talking tomorrow.

More to come as it comes.

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