Anti-austerity movement

A team of US Treasury officials will visit Greece in the coming weeks, the Treasury said Tuesday, as Athens?s new anti-austerity government works to ease terms on its bailout program.

The team, whose mission was not detailed, will be led by Daleep Singh, the Treasury?s deputy assistant secretary for Europe and Eurasia.

 Greece's new Prime Minister Alexis Tsipras is set to unveil his anti-austerity coalition government Tuesday, bringing together his radical left-wing party with the nationalist right, after a stunning election win that sent shockwaves through Europe.

The International Monetary Fund has said it is ready to extend its financial support for Greece.

"We stand ready to continue supporting Greece, and look forward to discussions with the new government," IMF chief Christine Lagarde said in a statement on Monday, according to The Financial Times.

On a lightning visit to Athens on Wednesday, Spanish Prime Minister Mariano Rajoy expressed support for his Greek counterpart Antonis Samaras and defended the tough economic program the outgoing government has been pursuing under the supervision of foreign creditors, saying the reforms were ?necessary? and had ?produced results,? advising Greeks to ignore ?impossible? promises.

By Rainer Buergin, Birgit Jennen & Brian Parkin

Germany is leaving the door open to discussing debt relief with Greece?s next government, lawmakers in Chancellor Angela Merkel?s coalition said, signaling a more flexible stance than her administration has taken publicly.

US stocks were slightly slower in opening trade Tuesday, falling with European equity markets on political uncertainty in eurozone member Greece.

Five minutes into trade, the Dow Jones Industrial Average stood at 18,008.31, down 29.92 points (0.17 percent).

Greece’s five-year bonds rose on Monday after a poll on Sunday showed that the lead of the anti-austerity SYRIZA party had narrowed before the second round of a presidential vote on Tuesday.

The Greek five-year note yield fell 30 basis points to 8.53 percent.

The country’s 10-year rate declined 13 basis points to 8.30 percent.

Judging from Wednesday's vote in the Greek parliament, Prime Minister Antonis Samaras may not get the mandate he wants to keep economic austerity measures in place and avoid defaulting on the country's debt. His would be the responsible path, but it's easy enough to see why Greeks wouldn't want to follow it.

A 24-hour general strike has paralysed Greece in protest against further austerity measures demanded by the country's international lenders.

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