Greek market welcomes EU package

Greece’s borrowing costs fell sharply today and stocks rallied after the European Union unveiled a trillion-dollar plan to contain the continent’s spreading debt crisis and boost the euro.

The difference between yields on Greek 10-year bonds and their benchmark German equivalents was at 5.21%, down massively from a record 10.25% on Friday. The general share index on the Athens stock exchange gained 9.68% in midday trading, reaching 1,788.32 points.