GREECE PASSED MORE economic tests on Thursday, meeting creditors’ conditions to begin negotiations on a third bailout package.
Those talks, which could unlock up to 86 billion euros ($94.28 billion) of aid for the beleaguered country, could continue for some weeks.
Not surprisingly, recent events surrounding Greece checked the economic recovery in the euro zone in July. The euro-zone purchasing managers’ index showed that economic activity slowed slightly, although output remained close to four-year highs. The hiccup illustrates that Europeans are worried about Greece, but not unduly concerned that a Greek exit from the euro zone couldn’t be managed.
Stumbles for the Chinese economy and the timing of the Federal Reserve’s expected interest-rate rise are giving investors plenty more to worry about. The Stoxx Europe 600 index ended the week down 2.7%.