Markets surge as Tsipras wavers over conditions

Wed close: Markets rallied today on a report that Greece is prepared to accept most of the conditions from its international creditors.

Greek Prime Minister Alexis Tsipras appeared to be prepared to concede impositions in order to stabilise the economy and enable some normality to return.

It was thought Tspiras would come under pressure from European ministers to campaign for a yes vote in the referendum in favour of the bail-out terms.

However, he was later reported to be urging a No vote – directly opposing the conditions he had just accepted.

Amid the confusion, stocks rose across the eurozone, lifting the FTSE100 by more than 100 points while the euro trimmed losses against the dollar.

The FTSE 100, which ended yesterday at its lowest since 12 January, closed up 1.33%  or 87.61 pts at 6,608.59. France’s CAC 40 1.9% and Germany’s DAX by the same amount.

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