Happy Days (well for the moment anyway)...

Australian shares rose by almost two per cent, boosted by investors' confidence that a Greek default would not extend beyond Europe.

The local market opened more than one per cent firmer on Friday, following strong European and US leads after a tranche of details about the Europeans' plans for the debt crisis were released overnight.
By 1200 AEDT, both major local indices had moved higher, with the benchmark S&P/ASX200 index up 79.9 points, or 1.96 per cent, at 4,149.8 and the broader All Ordinaries index gained 78.6 points, or 1.9 per cent, to 4,210.7.
Australia's isn't the only market in the region trading in positive territory today:

• Japan's Nikkei is 1.2% higher to 8623.1
• Hong Kong's Hang Seng 2.6% higher to 17623.3