Bloomberg/Nikos Chrysoloras/02-22-17
Greek bond yields plunged to the lowest level in almost a month after creditors reached an agreement that would allow auditors of the nation’s bailout to continue negotiations for the release of another emergency loan payment.
…After Monday night’s meeting, the Greek government agreed to legislate structural reforms demanded by the International Monetary Fund that will lower the threshold of tax-free income and amend the pension system. These changes will come into effect by 2019. Until now, such measures were a red line Prime Minister Alexis Tsipras had said he wouldn’t cross. Its color has now faded.
PG View: There’s no deal, just relief that the negotiating will continue.
