Greece's rejection of a set of
repayment terms offered by its international creditors is likely to be the
biggest factor driving stocks when opening bells sound in global markets on
Monday.
The Greek people decided that the poll—rather than a vote on euro membership as some in Europe had warned—was in fact a vote on the austerity policies which have contributed to ordinary Greeks feeling much worse off. A lot of the market's reaction may depend on whether investors believe they won't have a messy departure from the single currency as a result.
The Greek people decided that the poll—rather than a vote on euro membership as some in Europe had warned—was in fact a vote on the austerity policies which have contributed to ordinary Greeks feeling much worse off. A lot of the market's reaction may depend on whether investors believe they won't have a messy departure from the single currency as a result.
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