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Eurozone, ECB, IMF Reach Deal on Greek Bailout Terms

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 4:48
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Imus morning program on the fox goes yeah.

Good morning everyone Greece's lenders have reached a deal clearing the way for the debt ridden country to get more money in an effort to remain solvent.

Euro zone finance ministers of the European central bank and the International Monetary Fund say they are all satisfied.

With Greece's financial reform so far and had giving the okay for the country to receive nearly 57 billion dollars.

That money will come in several payments starting next month in addition to the -- Greece and lenders say they are prepared to consider other measures to support the country.

Including cutting rates and bail out loans suspending interest payments for a decade and giving it more time to repay loans.

Greece's debt is now targeted to fall to 124%.

Of gross domestic product by 20/20 and well below 110% of GDP by 20/20 two.

The global economy is facing a hesitant an uneven recovery -- the next two years largely due to Europe.

According to -- report.

The Organisation for Economic Co-operation and Development says the eurozone is expected to continue to struggle next year despite recent steps to stabilize the region's crisis.

The group forecast the eurozone economy will shrink point 1% next year.

While the US economies expected to grow 2% and the global economy is expected to grow 3.4 percent.

The international agency is warning the US and Europe against cutting spending to sharply.

And too quickly saying that could -- growth prospects even more.

Checking the markets now here in the US for seeing a mixed market Dow futures are down -- -- down to -- -- point while the S&P is up about four.

In Europe in addition to investors reacting to that Greece deal Spain sold five point three billion dollars in T bills topping its maximum target.

Meanwhile the UK reported that third quarter GDP increased 1% from the second quarter.

On revised from the previous estimate stocks in Europe are currently up across the board London's of 2.4 Paris -- a little more than eleven and Frankfurt's up almost 37.

Let's take a closer look now what's moving these markets IG market analyst Chris -- jump over London.

Chris the Greek Prime Minister Antilles -- Morris welcomed yesterday's deal saying it's a new day beginning for all of Greece but.

One of the biggest issues with Greece going into the crisis was having a -- -- -- people.

Expect to get a lot from the government without paying virtually any taxes is that mindset changing at all.

I think he's a bit of an -- -- -- direction from the Greek PM that but terms.

Well really.

I think would be to see a major change in sort of the Greek -- -- -- how they approach.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- I think what sort of what we've learned from this debt crisis in Greece needs that abstinence only -- private sector rather than just on the state.

And we also have -- OECD report basically saying that Europe is going on hold the global economy back for at least the next few years what do you make.

I think it reflects the thinking generate that your mr.

The main sapped confidence that we're seeing in the moment I do have a thing -- he's being slightly cautious when its credit assessments mean.

Despite everything they matching -- and even the US.

There's still showing fairly robust growth despite the problems that affect those economies is -- -- perhaps in my seeing improved growth which -- -- -- very welcome surprise -- these years is fairly -- expansion for economists.

Indeed it will -- that's Chris beach demo over London -- -- -- you thank you.

Thanks and we breaking news -- -- now ConAgra Foods is buying Ralcorp the largest private label food manufacturer in the US.

From about six point nine billion dollars of breaks down to about ninety dollars a share in cash the deal value includes the assumption of debt.

-- are set to get several pieces of economic data this morning including the latest read on durable goods.

Orders for October are expected to show a decrease of point 6% from September.

When they rose nearly 10% in the prior reading.

Durable goods are products built -- last three years or more like dishwashers and cars.

If you take out that transportation -- transportation component orders are expected to fall by half of a percent.

After climbing 2% in the prior month.

Now let's get the latest on weather from meteorologist -- and -- in our fox this weather center hey Maria.

Hey good morning -- and good morning everyone -- today we're tracking a pretty large storm system that is going to be impacting areas.

On on the East Coast of the US stretching across portions of the northeast even down.

As far west as parts of Mississippi Louisiana and Texas so again very large storm system the continues of this system.

Is that it doesn't have too much moisture and it's going to be a very quick mover.

As yet northbound we do have areas of -- -- -- as -- -- -- across portions of the northeast temperatures -- holding -- we're seeing this precipitation coming down.

And the foremost know already early this morning across Pennsylvania and just to the north.

The New York City area and to Connecticut Massachusetts to four inches are possible snowfall across parts of Pennsylvania and northwestern New Jersey.

And even down into the state of West Virginia coastal cities or.

Areas on the -- in five quarters and our -- looking to get a whole lot of snow believe icing about an inch here in New York City.

Hi that's really have on the weather senate thanks for area home Imus in the morning continues right now.

Ladies and gentlemen.

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