Markets Are Surging On Confidence In The Greek Debt Swap

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Photo: Courtesy of Peter Sommer Travel

European markets are surging on reports that Greece will likely be successful in its debt swap.  According to Bloomberg, economists project that Greece will have enough participants in the deal to activate the collective action clause, which would force the balance of Greek bondholders to go along with whatever the majority agrees to.England’s FTSE 100 is up 1.0%.

France’s CAC 40 is up 1.5%.

Germany’s DAX is up 1.6%.

Spain’s IBEX 35 is up 0.7%.

Italy’s FTSE MIB is up 1.0%.

U.S. markets are looking at a higher open with Dow futures up 80 points and S&P 500 futures up 9.5 points.

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