Year-to-date, Greek stocks are among the best performing in the world (absent the currency-collapse-driven spikes in several troubled nations).
The last few days have seen stocks spike further and today we get the 'rumor' that may have driven it as Handelsblatt reports an anonymous EU official stating that the Eurogroup could address Greek debt relief in the near future.
- *GREECE'S CREDITORS PREPARE DEBT RELIEF MEASURES: HANDELSBLATT
- *GREECE CREDITORS MULL ESM TAKING OVER IMF LOANS: HANDELSBLATT
Which perhaps explains the recent surge in GREK (the Greek ETF)
As Bloomberg reports, following the implementation of prior actions by Greece, the Eurogroup could address the sustainability of Greek debt in the near future on the basis of the May 2016 agreement, an EU official, who spoke on condition of anonymity says.
Eurogroup could also endorse policy package as part of the terms of the next disbursement. EU official comments after Euroworking Group meeting in Brussels.