Since the financial crisis hit, the weekend bailout agreement has become something of a tradition. Last weekend it was Greece's turn to try and stem the tide after a difficult week in the markets.

This morning's trading saw Greek credit default swaps, which pay out in the event of a default on the country's debt, come in to 345bp, 75bp tighter than the close on Friday according to Markit data. That is an encouraging step in the right direction, and Gavan Nolan, credit analyst at Markit said that the country's CDS continued to trade in the 340bp to 350bp range after a volatile morning's trading.