AlQa'dah 29, 1432, Oct 27, 2011, SPA -- Shares on Greece's stock market rose sharply Thursday following a debt deal reached by European leaders, as politicians and analysts reacted cautiously while scrambling to gather details of the landmark agreement, AP reported. In midday trading, shares on the Athens Stock Exchange were up 3.52 percent at 801.06, with banking stocks up more than 10 percent - after suffering heavy losses earlier this week. The deal requires banks to take on 50 percent losses on Greeks bonds. Eurozone countries and the International Monetary Fund will also provide an additional Euro 100 billion ($140 billion) in rescue loans as a second bailout package for Greece. "We have avoided a mortal national danger," Socialist Prime Minister George Papandreou told a news conference in Brussels after the night-long negotiations were concluded. "Just the fact that we got here (Thursday) is an achievement ... Today we have the ability to close our accounts with the past," he said. "A burden from the past has gone, so that we can start a new era of development, on our own steam." The government this week abandoned talk of seeking opposition support for a three-fifths majority in the 300-seat parliament to approve the new debt deal, after rival parties indicated they would vote against it. Opposition parties appeared critical of the deal Thursday.
