European shares rally as Greece drops calls for debt write-off
Greek retreat may shift attention to Tsipras's desire to increase spending and roll back austerity
London
EUROPEAN shares rallied and yields on eurozone government bonds tumbled on Tuesday after the new Greek government dropped calls for a write-off of its foreign debt.
The new Greek government, led by the left-wing Syriza party that won elections just over a week ago, on Monday ditched calls for a write-off of foreign debt and proposed ending a standoff with its official creditors by swapping the debt for new growth-linked bonds.
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