Markets rise on Greek bailout hopes, China’s move to ease monetary policy

Markets were optimistic Monday that Greece will finally secure a massive but long-delayed international bailout, allowing the debt-crippled country to avoid defaulting on its debts next month.

A surprise easing in monetary policy in China over the weekend also added to the buoyant mood in markets — many stock indexes are trading at multi-month highs, while the euro has recovered its poise.

The main focus of attention — on a day when Wall Street will be shut for a public holiday — will be Brussels, where the finance ministers from the 17 eurozone countries are gathering to discuss the elusive Greek bailout deal.

After some eurozone countries suggested last week that they might prefer Greece to default, the latest comments indicate the ministers will approve th €130 billion ($171 billion) bailout.

Greece has struggled to convince its partners in the eurozone, particularly Germany, that it will enact the austerity and reform measures in return for the cash.

From: Brandon Sun