Greece Closes In on Debt Deal

    Ripped EU and Greek flags flutter in Athens on February 9, 2012.   The debt rescue for Greece hits an 11th-hour hurdle on pension cuts, with eurozone ministers poised to meet on a package to avert default and Greek unions calling another general strike to fight the terms. AFP PHOTO/ LOUISA GOULIAMAKI (Photo credit should read LOUISA GOULIAMAKI/AFP/Getty Images)

    Louisa Gouliamaki, AFP / Getty Images

    One nearly heard a lusty roar from across the Atlantic Thursday as Greece seemed to secure a historic deal with private lenders. Investors and officials were reportedly confident about the status of the deal, which could help bring stability to Europe’s economy. The deal would be a step toward ensuring fresh bailout funds for Greece. Stocks in Europe rode high on the news, and interest rates on Spanish and Italian government debt dropped. “It’s a done deal,” said the president of a New York capital-management fund that brokered the agreement.

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