Euro rises against yen, Swiss franc

London

THE euro rose against the safe-haven yen and Swiss franc on Monday, as a new Greek offer for a cash-for-reforms deal raised hopes of an agreement between the debt-laden country and its creditors, boosting investors' risk appetite.

Eurozone leaders began an emergency summit on Monday, with EU officials welcoming the proposals as a "good basis for progress" to avert a Greek default. The Greek stock market jumped nearly 7 per cent and European shared surged.