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Global Daily: Eurozone leaders strike Greek bailout deal

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Financial Markets

Eurozone leaders reached a conditional deal for Greece on Monday.  The three-year bailout deal provides about €85 billion of new funding in loans for cash-strapped Greece.  But details on how to bridge a funding gap until an actual disbursement of aids are still being discussed.  In return, Greek government agreed to deep economic reforms under close supervisions by its creditors. The rescue, Greece’s third since 2010, should keep Greece afloat and secure the country’s place in the Eurozone for now.

Global Daily: Greek government submits new reform proposal

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Chinese equities advanced again on Friday, capping the biggest two-day gain since 2008, as unprecedented government support measures helped curtail a stock-market rout that wiped out about $3.9 trillion in market valuation in less than a month.  The benchmark Shanghai Composite index rose 4.5 percent, adding to Thursday’s 5.8 percent gain. The rally helped the gauge rise 5.2 percent this week after tumbling to a 3-month low on Wednesday.

Global Daily: U.S. jobless claims rise in latest week

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Facing a midnight deadline from European creditors, Greek government was racing to finalize a plan of reforms for its third bailout.  Details of Greece’s reform proposals are to be submitted Thursday to give creditors time to review them ahead of a summit of Eurozone and European Union leaders on Sunday.  EU leaders said they will make a final decision Sunday on Greece’s future in the euro.

Global Daily: U.S. private sector employment rises firmly in June

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Greek Prime Minister Alexis Tsipras urged voters on Wednesday to reject austerity measures in Sunday’s referendum on Greece’s bailout package offered by creditors, saying that a “no” vote does not mean a rejection of the euro, but would instead increase pressure on international creditors to give the country an economically viable deal.  Germany said earlier there could be no talks on a new bailout until after Greece’s referendum on July 5th.

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