Have I missed a major decision by the heads of the EZ member states??? Is it really that easy? If yes, it does not qualify the intelligence of the “markets”. (hfk)
Source: The Wall Street Journal
The euro reached a seven-month high against the dollar following a five-notch upgrade of Greece by ratings firm Standard & Poor’s, and investors welcomed progress in the U.S. budget negotiations, prompting a rise in stocks.
The euro hit its highest level since May 1 after Standard & Poor’s raised its rating on Greece to B-minus from selective default late on Tuesday.
It is the highest rating S&P has given Greece since June 2011.
The move follows the euro-zone member states’ determination to support Greece’s European Union membership and the Greek government’s commitment to uphold fiscal measures, said S&P. Greek, Italian and Spanish ten-year bond yields also eased, reflecting the relief in the market. Den Rest des Beitrags lesen »