Sentiment Improves as ECB May Make Concession on Greek Debts

Financial markets waxed and waned on Greek bailout fund and the PSI deal. A step closer to the new tranche of funding as the debt-ridden government agreed to cut minimum wage by 20-22%, reduce public service job by 15 000 and lower pensions. The EU/IMF/ECB troika remained scheduled to hold a meeting at 6 pm in Brussels tomorrow to discuss the Greek rescue package. Germany's Deputy Finance Minister Steffen expressed his disappointed in Greece, saying the country had made little progress since 2010.

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Sentiment Improves as ECB May Make Concession on Greek Debts