Greece’s $40 billion bailout an improvement, but issues remain
Markets soothed as firm details of Greek rescue plan are announced, eurozone will provide €30 billion at discounted 5% rate for year forward, analysts less convinced
Eurozone officials were relieved on Monday after details of the region's plan for a potential bailout of debt-riddled Greece, unfurled on Sunday, lifted some of the doubt enshrouding sovereign debt and the single currency.
The euro soared to a three-week high against the dollar, hitting €1.3691 to the greenback around midday in London, as fears that Greece's troubles could drag the currency down abated. Appetite for Greek sovereign debt grew, with yields on ten-year bonds falling to 6.53%. The
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