As Greek Deal Nears, Markets Recover
They see the light at the end of the tunnel. The European stock index is up 1.9 percent, meaning it’s finally regained the ground lost when last week’s Greek referendum sent everything plunging. Though there are no guarantees as European officials prepare for discussions on Greece’s new austerity-laden economic reform proposals, investors seem optimistic again, with bond markets rallying as well and the euro crawling back up 1.1 percent against the dollar. But if Greece’s domestic naysayers sink the new plan in today’s vote, these gains could come crashing down.