debt burden

Skeptics of efforts by European officials to tackle Greece’s debt burden are saying some main elements of the agreement may not be as good as they looked initially.

The European Union hopes to push its member states to take firmer action on the debt crisis when it presents on Wednesday a broad new plan to fight market turmoil, from strengthening weak banks to lowering Greece's debt burden.

So far so good was Wall Street’s reaction to Europe’s latest effort to relieve Greece’s debt burden, but the plan’s effect on the markets in the coming days was unclear.

The credit rating agency Standard & Poor’s said the Japanese government’s already high debt burden was likely to continue to rise.

Stocks surged Tuesday on hope that the European Union will help Greece manage its growing debt burden.