Greek efforts calm markets

Greek prime minister Alexis Tsipras’s damage-control efforts calmed investors while failing to budge European policy makers on his week-old government’s key demands.

Officials in Berlin, Paris, and Madrid have rejected the possibility of a debt writedown as they held out the prospect of easier repayment terms, an offer that has been on the table since November 2012.

Greek stocks and bonds rallied following a conciliatory statement issued by the premier on Saturday after markets tumbled.