SCOREBOARD: Greek breather

European markets were relieved overnight as Greece raised €4 billion, sparking an improvement in Spanish and Italian bond yields.

Another crisis was averted overnight as the Greek Treasury managed to raise €4 billion in a bill sale. Greek banks will provide the remaining €1 billion the government needs over the next two days. That should tide them over then until eurozone ministers meet (I think on November 26) to make the final decision on the disbursement of funds. All the boxes have been ticked so I’m not sure why there is a delay. Drama I guess.


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