Greece Rolls Back Austerity

Investor's Business Daily
January 2015
Investors Business Daily;1/29/2015, pA01
4 PM Alexis Tsipras stopped plans to privatize businesses that were required under the terms of Greece's bailout, following up on anti-austerity pledges that helped him win the election. The new gov't will also reinstate some public-sector workers and increase pensions for low-income retirees. The Athens stock market sank 9%, with bank stocks tumbling on fears of stepped up withdrawals. The 10-year yield topped 10%, with Italian and Spanish yields rising as well.


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