Greek stocks surge as government presents its reform plans
The Athens stock index surged 7% at market open as investors reacted to the new government's reform plans.
Greece sent a list of its economic reforms to the European Commission, the European Central Bank and the International Monetary Fund at midnight, according to Reuters. The plans are expected to include measure to clamp down on tax avoidance, tackle corruption, reform the labour market to make it easier to hire and fire people and, most importantly for the Greek government, to address the country's humanitarian crisis.
Although the submission comes almost 24 hours later than the government in Athens had initially pledged, it has nevertheless sent Greek stocks rallying this morning.
Here's the Athens stock exchange:
Greece's 10-year government bond yield (the interest rate the government has to pay on its debt) also fell below 9% for the first time since January 26th:
