STOCK MARKET WATCH -- Monday, 12 November 2012 (Holiday -- US markets closed)

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51. Troika Delivers 'Positive' Report on Greece

http://www.spiegel.de/international/europe/euro-group-chief-juncker-says-troika-report-on-greece-positive-a-866721.html

The inspectors of the troika, made up of the European Commission, the European Central Bank and the International Monetary Fund, have finally presented their report on Greece and the head of the Euro Group of euro zone finance ministers, Jean-Claude Juncker, said it was "positive."

Arriving in Brussels for Euro Group talks later in the day, Juncker said the ministers received the report on Sunday night and that it "is positive in its fundamental tone because the Greeks really delivered. Now it is for us to deliver." He said the ministers would check the report in detail and that he couldn't give a final verdict on it because he was still reading it.

The Euro Group meeting comes after the Greek parliament passed an austerity budget for 2013 late on Sunday and a structural reform package last Wednesday, meeting the conditions for the release of the next €31.5 billion tranche of euro-zone aid. Athens' 2013 budget includes cuts of almost €10 billion.

But various officials said the money will not be released yet, despite the vote. "I am impressed by Greece's recent performance. Greece is on track to meet its commitments step by step," Juncker told reporters in Brussels. "There won't be any definitive decisions today, but I think the general feeling is that we would like the next disbursement to done in the most efficient way possible."