Monday, February 6, 2012

Market focus Greece developments news feb 7 2012

Market focus Greece developments news feb 7 2012 : Most markets were subdued, as investors remained split over whether the wrangling over Greece would eventually be resolved or trigger contagion across other vulnerable euro zone countries.

Gold market steady on Tuesday, as investors remained focused on developments in Greece's struggle with its debt crisis after Athens delayed its decision on accepting the terms of a new bailout.

Talks on the Greek austerity package were postponed to Tuesday. Separately, Greek Prime Minister Lucas Papademos was meeting with the country's creditors late Monday. Greece wants its creditors to swap their Greek government bonds for new ones that are worth 50 percent less. Before that can happen, however, Greece needs its emergency bailout to use as a cash payment in the bond swap.
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