Egyptian stocks rebound on EU announcement

The Greek financial crisis, having caused severe disruptions in international markets, is now finally starting to ease as European Union countries agree on measures to prevent its spread to other countries, say EU sources.

The European Central Bank intervened yesterday to buy eurozone government bonds, and finance ministers of EU countries have agreed to adopt emergency procedures at a cost of 750 billion euros to contain the crisis.

Meanwhile, Minister of Trade and Industry Rachid Mohamed Rachid said that cooperation between Egypt and Greece will continue within the framework of the partnership agreement between Egypt and the EU.

Egyptian stocks restored LE11 billion of their market value after making a loss of LE18 billion two days ago.

Translated from the Arabic Edition.

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