Markets hopeful on Greek debt compromise

Greek government bonds advanced for the first time in five days on speculation that the nation and its international creditors are moving toward an agreement that will help ensure Greece is not left short of funds.

Finance minister Yanis Varoufakis is due to meet his 18 eurozone counterparts today to propose a short-term funding programme to let Greece revise its current bailout conditions and negotiate a new programme.

Varoufakis said on Monday that Greece will implement about 70% of reforms already included in the current bailout agreement and pursue more overhauls with the Organisation for Economic Co-operation and Development.