However, wire services reported in late morning trading that issues with the European Central Bank may at least temporarily block any Greek debt-restructuring agreement.
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The market place now perceives that the expected Greek debt restructuring final agreement would be bullish for the raw commodity sector, including the precious metals.
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But as the unsecured creditors committee noted a few weeks ago, American Airlines can certainly exit restructuring without an agreement, although that is certainly not our preference.
Reports said Greece private sector and government talks on debt restructuring are now progressing and an agreement could be announced soon.
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Iberia and unions representing most of the Spanish airline's staff reached an agreement in principle on a restructuring proposal, raising the prospect of an end to on-and-off work stoppages.
Noda has also signaled that he will honor the previously-reached agreement with the opposition parties on restructuring government finances and putting welfare state programs on a sustainable financing footing, specifically raising the consumption tax from the current five percent to 10 percent by yearend 2015.
There are reports the European Union and International Monetary Fund have reached a debt relief agreement with Greece, without the debt restructuring that would have upset some EU member countries.
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The automobile industry was headed for a calamity, and two of the great auto companies in America were saved by a financial agreement that had management, labor and government restructuring the company.
So if there's so much agreement about what should be done, why has restructuring at Siam Cement nearly ground to a halt?
It is seeking support for a consensual restructuring among note holders, and has already entered into a forebearance agreement with more than 60% of them.
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Administration officials, in outlining three options for restructuring the housing-finance system, have been emphasizing areas of agreement with Republicans, stressing that they favor a system that is less dependent on government support.
The European Union sovereign debt crisis is still simmering and the focus this week has been on a debt- restructuring deal between the Greek government and the private sector, for which an agreement is reported to be close but is still elusive.
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