Global Stocks Rise on Greek Deal Optimism

Stock markets have risen on the hope that a deal may finally be agreed between Greece and its creditors, after Athens submitted fresh proposals to try and avoid defaulting on its debts.
Paris and Frankfurt markets were up 3%, while London’s FTSE 100 was 1.4% higher. Japan’s Nikkei closed up 1.3%.

Greek PM Alexis Tsipras is meeting with his country’s creditors later.
If a deal is not agreed, Greece risks defaulting on a €1.6bn (£1.1bn) loan repayment due at the end of June.

The proposals submitted by Athens have been received positively by its creditors – the International Monetary Fund, the European Central Bank and the European Commission (EC) – and by its eurozone partners.

“I see the work that has been done,” said French Finance Minister Michel Sapin. “It is quality work.”
He added: “A deal requires both sides to evolve. This work is underway and is being undertaken in good conditions.”

Earlier, a representative of the EC said the proposals represented a “good basis for progress”.

via BBC

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