Irish government bonds rose, pushing 10-year yields to a record low, as Europe’s most- indebted nations extend their access to funding markets that are thawing as the region’s four-year financial crisis abates.
Greece has shown “great progress” in implementing austerity measures to cut the European Union’s second-biggest budget gap and should qualify for a 9 billion- euro ($11.8 billion) installment of emergency loans, an International Monetary Fund official said.
Greece’s economy has been rescued from the “abyss” as austerity measures aimed at restoring order to public finances “are being implemented as planned,” the European Union and International Monetary Fund said.
Greek unions grounded flights, kept ferries docked at ports and shut down public services today to protest wage cuts as the government sticks to conditions of an international bailout. Protesters clashed with police in Athens.