- Title: MARKETS-STOCKS/EUROPE German DAX opens 0.8 percent higher on hopes for Greek deal
- Date: 23rd June 2015
- Summary: FRANKFURT, GERMANY (JUNE 23, 2015) (REUTERS) TRADING FLOOR AT FRANKFURT STOCK EXCHANGE SIGN READING (German) "FRANKFURT STOCK EXCHANGE" TRADERS DAX CURVE VARIOUS OF TRADERS (SOUNDBITE) (German) ROBERT HALVER FROM BAADER BANK, SAYING: "The DAX is still happy that white smoke will be rising soon in regard to Greece. But it must be clear that this is just a short-term success
- Embargoed: 8th July 2015 13:00
- Keywords:
- Location: Germany
- Country: Germany
- Topics: General
- Reuters ID: LVA7YMZ29Q0SEV2PVV2ZQUEHVVMW
- Aspect Ratio: 16:9
- Story Text: European shares extended the previous session's sharp rally and climbed to a three-week high on Tuesday (June 23), with growing expectations that Greece was getting closer to a deal with its international creditors boosting sentiment further.
Germany's DAX index opened 0.8 percent higher and extended gains to more than one percent some three hours into trading.
"The DAX is still happy that white smoke will be rising soon," Frankfurt trader Robert Halver of Baader bank said, referring to the practice of white smoke being used to indicate a decision has been made when a new Pope is elected.
"But it must be clear," Halver added, "that this is just a short-term success: the Greek debt crisis will re-emerge in the autumn of 2015, at the latest," he predicted.
In Berlin, passers-by at the busy Friedrichstrasse train station said they favoured Greece remaining in the eurozone.
"To me, the sticking point is that we have forces within the EU who are not interested in saving Greece but simply in doing away with a leftist government," said one man who gave his first name as Rainer.
Arno Tautphaeus said he supported a debt cut for Greece, calling the idea "marvellous."
"Not everything," he quickly added, "I think that would be unhealthy. But I do think that we should grant them a debt relief. They won't be able to pay their debt back anyway."
Gisela Hauff said that also for personal reasons, she wanted Greece to remain in the EU and the eurozone.
"We hardly get any interest on our savings anymore. I am part of the older generation and savings are what we had planned for our old-age security," Hauff said.
"So of course I am interested in the EU's continuation the way it was once envisioned. But all we can do is hope," she said.
Twenty-four hour German news channel N24 led its 10 a.m. bulletin on Tuesday with a report from the previous night's EU summit on Greece, calling it the "moment of reckoning". - Copyright Holder: REUTERS
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