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FINALLY Greece Closes In on Debt Deal Louisa Gouliamaki, AFP / Getty Images

Greece Closes In on Debt Deal

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.

March 8, 2012 9:19 PM