Posted on 11/01/2011 2:39:05 PM PDT by markomalley
So much for euphoria.
Having soared just days ago on a pledge by European leaders to prop up euro zone banks and stem the spread of a festering debt crisis, world stock markets and the euro came crashing back to earth this week as Greece's government hovered near collapse.
The decision by Greece's prime minister to subject a just-agreed bailout to referendum was the last thing markets wanted to hear.
A defeat by Greek voters could see Greece ejected from the euro zone and thrust into default, a scenario investors fear could spark a run on banks that have lent money to troubled European states.
Investors, faced with such risks, may opt to pack it in for the year and live to trade another day.
(Excerpt) Read more at reuters.com ...
Good.
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