Market rallies on Greek News
Market rallying into the close on some Greek news. As we reported earlier, today would be the perfect set up for all the momos to sell into the support levels, just to chase it higher tomorrow. Nasdaq is nice plus. This market needs to get the last ones onboard before we get the collapse. Reuters reports;
Greece has won the consent of a team of EU-IMF inspectors for its new five-year austerity plan on Thursday after committing to an additional round of tax rises and spending cuts, sources with knowledge of the talks said.
“We have a deal,” said one of the sources.
Another source close to the negotiations said that a few remaining technical details would be finalized on Friday.
Finance Minister Evangelos Venizelos announced on Thursday Greece’s Socialist government would lower the minimum threshold for income tax to 8,000 euros a year, increase the tax on heating oil and impose a one-off solidarity levy on income of between 1 and 5 percent.