Greece Reaches Austerity Deal

Greece has reached an austerity deal. Leaders have announced that a deal has been reached, and that Greece will avoid a default in March. The news has been greeted largely with relief in global financial markets.

Spread betting and contracts for differences on the stock market should consider that a rally is beginning. European stocks are higher, with the FTSE 100, DAX and CAC 40 all leading the way. The Stoxx 600 is also higher.

The news is also providing relief to the struggling euro in forex trading. Euro has rallied to break through the 1.33 level against the US dollar on the news that an agreement has been reached and Greece will be bailed out.