Global markets relieved by the rescue of the Greece plan

London (AP) - relief in a bailout of the Greece led higher global actions Friday after European leaders made radical changes to a relief fund in an effort to seal more significant savings off the coast of the continent debt crisis.News of the 109 billion euros ($155 billion) package of loans of Athens caused yield, or rate of interest on the obligations of the country to fall sharply. The plan promised to reduce the burden of debt Greece - crucial for help, he beats a path on the loan cycle.But the more radical part of the agreement announced that Thursday is that it allows countries to take advantage of the relief fund before their borrowing costs and reach a critical level, a plan of leaders hope means that they can be preventively faltering economies and stop the March of the crisis.These steps were larger than expected and the rally that began as the deal took shape Thursday strongly continues a day later. The euro also continued his wave, moving the index FTSE shares $ 1.4407.The British leaders earned 1.1 percent to 5,962. The France CAC - 40 rose 1% to 3 855, while Germany of DAX moved 0.6 per cent to 7, 333.Wall Street was also ready to open higher. Future Dow gained 0.4% to 12,740, then the S & P futures contracts rose by 0.3% to 1,346. The more conservative gains in US markets may reflect the concern that Congress has still not agreed to raise the debt ceiling. It should be thrown by 2 August, and although several offers are floating, it remains uncertain will be, if successful, making capricious investors.Although the markets have been respond positively to the Greek rescue plan, some analysts tempered their praise, recalling that it has not yet resolve the fundamental problem: that the Greece is swimming in debt and extending more loans could aggravate the situation.The Greece of the debt mountain "in itself will be enough to cast a shadow on the country's efforts to stabilize its debts over the next years long and efforts will be taken hostage by the fate of the world economy and fairly optimistic growth projections, said Neil Mellor of Bank of New York Mellon.And the question remained whether the Greece will be the last country dragged in the crisis."So far, Ireland, Portugal and the Greece need rescues because investors who viewed the risks have demanded exorbitant rates to lend them money. The fear was that the Italy and the Spain will fall into the same trap, and that attempting to refloat the third and fourth economies of the euro area would have bankrupt the Union.Yields of the Italians and Spanish slid again Friday and were well below the mark of 6 per cent of threshold that they had reached earlier.Still, Benjamin Reitzes, Senior Economist at BMO Capital markets, said that he "" sees little here to prevent markets to eventually renewed pressure on the Italy or the Spain, if they run into humps. ""Earlier in Asia, shares also positively respond to the European package.Average stock of Japanese Nikkei 225 advanced 1.2% 10,132.11, index of Hang Seng Hong Kong shot 2.1 per cent to close at 22,444.80. ABN the Korea South added 1.2% to end the 2,171.23, while Shanghai index close to 2, 770.79.Optimism on the Rescue Agreement China gained 0.2% Composite Greek drove the price of oil towards $100 a barrel.Oil of reference for the delivery of September increased increased 34 cents to 99.47 $ us per barrel in electronic trade on the New York Mercantile Exchange.