Managers' verdict on second Greek bailout

US and Asian markets gave a modestly positive response to the second Greek bailout, following losses in European counterparts, as it emerged the debt-laden nation has just nine days to implement many of the conditions of the rescue.

The Greek government has until the end of February to complete the actions demanded by lenders in order to unlock the €130bn bailout agreed on Tuesday, according to the FT. Two years ago Greece secured €110bn in its first bailout from the European Commission, ECB and IMF but the country sank further into debt. This time around, Greece has agreed to cut pay, public sector jobs and spending in five years of austerity measures in exchange for the €130bn. It will be given partly as a loaned lump sum to the country and partly wiped off existing debt. Yesterday the FTSE 100 closed down 0....