Papandreou On the Brink, Markets In Flux
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There are various reports this morning suggesting Greek Prime Minister George Papandreou will resign as soon as today. Subsequent reports, attributed to his Chief of Staff, said he has not and will not resign.
The situation is very fluid following Papandreou's decision earlier in the week to call a referendum on the latest bailout.
Markets are in flux as an exit by Papandreou could signal that Greece will not hold the referendum vote, which threatens to cut off all aid and will most likely lead to a default of the debt-ridden country.
Stocks in Europe rose on hopes that the Greek government, in what ever form it takes, will not move forward with the referendum.
The situation is very fluid following Papandreou's decision earlier in the week to call a referendum on the latest bailout.
Markets are in flux as an exit by Papandreou could signal that Greece will not hold the referendum vote, which threatens to cut off all aid and will most likely lead to a default of the debt-ridden country.
Stocks in Europe rose on hopes that the Greek government, in what ever form it takes, will not move forward with the referendum.
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