Greece bailout gets the thumbs up
Dow Jones reports the first tranche was approved at €26 billion.
The stock market likes it while the FX market isn't quiet sure what to do with the news. The S&P 500 is at a session high, up 9 points to 2092 after falling as low as 2080 earlier. Looks like we'll close out the week on the highs.
Update:
- Dijsselbloem says last issues solved on Greek bailout
- Will assess banks' need for capital after stress tests later in the year
- Debt sustainability possible without nominal haircuts
- First tranche is €26B, including €13B by Aug 20 and a further €10B for banks
