It looks like Greece will be able to avert default for the time being. From Bloomberg:
Euro-area finance ministers will meet for the third time in a week on Wednesday to try to secure an agreement to avert a default in Greece.
With a week to go before the country’s bailout expires, a deal appeared within reach after Greek Prime Minister Alexis Tsipras signaled he was ready to end a bitter five-month standoff and reach agreement with creditors to unlock aid...
“We have now seen enough progress for the finishing line to have become visible,” Erik Nielsen, a Unicredit SpA economist in London, wrote in a note to clients. “Failure from here is difficult to envisage...”
“I am absolutely convinced that in a few days an agreement will be reached,” Spanish Prime Minister Mariano Rajoy said on Tuesday...
Investors appear to share the optimism. Greek stocks rose on Tuesday, the Athens Stock Exchange Index jumping 6.1 percent after surging 9 percent on Monday. The yield on Greece's two-year bond fell 329 basis points to 21 percent.
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