Markets boosted by Greek hope

Improving prospects of Greece getting its second bailout, thus keeping the euro zone intact for the time being, boosted international stock markets yesterday.

A move by China to limit the amount of money its banks must hold in reserve — indicating that the institutions may begin lending more and boost the country’s economy, as a result — also helped investor sentiment.

Entering yesterday’s crunch eurozone finance minister talks in Brussels, optimism was in the air with the likes of IMF chief Christine Lagarde and Greek finance minister Evangelos Venizelos talking up the chances of solidifying the eurozone and saving Greece from default through its second bailout in two years. Ireland’s junior finance minister Brian Hayes said it was time to get the issue “over the line“, adding he was confident that would happen.