National Bank of Greece (NBG) Up on New Round of Funding
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The National Bank of Greece (NYSE: NBG) is trading 13.6 percent higher on Monday's session following news that Greece has met measures for another round of funding.
The European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) -- known as the "troika" -- said today that they closed the latest review into the country and finance minsters are expected to approve another round of austerity funding later today.
Greece and the creditors agreed to put about 12,500 public workers into a "mobility program," which would call for reduced wages over the next several months, then either moved to another portion of the government or laid-off entirely. Another 15,000 workers are expected to be cut before the end of next year.
NBG is up 11.7 percent today.
The European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) -- known as the "troika" -- said today that they closed the latest review into the country and finance minsters are expected to approve another round of austerity funding later today.
Greece and the creditors agreed to put about 12,500 public workers into a "mobility program," which would call for reduced wages over the next several months, then either moved to another portion of the government or laid-off entirely. Another 15,000 workers are expected to be cut before the end of next year.
NBG is up 11.7 percent today.
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