global impact Greek referendum plan on markets

global impact Greek referendum plan on markets : Reverberations from Greece's plan to hold a referendum on its newly-crafted bailout package sank the euro Tuesday, with investors fearful that a vote could endanger the euro zone's financial rescue efforts and jeopardize monetary union across the 17-nation bloc.

A day after Greek Prime Minister George Papandreou surprised the world by calling for a nationwide vote on the country's bailout terms, markets were roiled by the prospect that such a measure could be the beginning of the end of Greece's euro membership. Papandreou's move also opened fissures within his ruling Socialist party, with opposition strong among key cabinet members and lawmakers.

impact Greek referendum gold prices
Gold prices firmed on Tuesday, riding on renewed safe-haven demand as fears about Greece's debt crisis returned after its government shocked the markets with a call for a referendum on a European Union aid deal. Read More..

Asian markets down on Greek referendum fears
Asian markets fell Wednesday, taking a lead from Wall Street amid fears that a Greek referendum on its latest bailout deal could derail Europe's grand plan to fix its crushing debt crisis. In morning trade, Tokyo was down 1.93 percent, Sydney lost 1.34 percent, Seoul shed 1.30 percent while Hong Kong was 1.46 lower and Chinese shares were off 1.30 percent. Read More..

Greek referendum plan shakes financial markets
Greek Prime Minister George Papandreou’s shock decision to hold a referendum on the EU's bailout deal has drawn angry reactions from Germany’s financial sector. The DAX stock index plunged by six percent in midday trading. Read More..

Greek referendum plan causes global stockmarket panic
Fears that the eurozone rescue package was close to collapse spooked stockmarkets worldwide on Tuesday as investors worried that political turmoil in Greece posed a new threat to Europe's single currency, and fears were reignited of a global recession. Read More..

Euro Slides As Greek Referendum Plans Jolt Markets
Late Tuesday, the euro was at $1.3700 from $1.3850 late Monday, according to EBS via CQG. The dollar was at Y78.38 from Y78.17, while the euro was at Y107.40 from Y108.34. The U.K. pound was at $1.5950 from $1.6082. The dollar was at CHF0.8871 from CHF0.8765. The ICE Dollar Index, which tracks the U.S. dollar against a basket of currencies, was at 77.330 from about 76.166. Read More..

US Crude falls on Greek debt worries
US crude fell for a fourth day on Wednesday, the longest losing streak since August, as renewed concerns about Greece's debt crisis and a slowdown in China's manufacturing drove investors to assets such as the dollar and gold. Read More..

THE Australian dollar is more than one US cent lower after markets overnight were shocked by news that Greece will hold a referendum on accepting a second bailout package from its Eurozone partners. For the latest updates PRESS CTR + D or visit Stock Market news Today

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