Renewed uncertainty over Europe's sprawling debt crisis following elections in Greece and France weighed on stock markets Monday, with the main exchange in Athens down a massive 8 percent at one stage.
Gold Surges As Greece Crashes - Eurozone Debt Crisis Part II Cometh Gold jumped 2.3 percent to a six-week high yesterday as sharp falls on stock markets globally led to renewed demand for gold as a haven.
Athens (AFP) - Greece votes Sunday in a snap general election that could bring the radical left Syriza party to power and pose the most severe challenge yet to austerity policies in struggling eurozone countries.
New Democracy won the Greek election. However, party leader Antonis Samaras still needs to form a coalition.
If this seems like Déjà Vu, it's because it is. We were in the same place following the May election.
Does the Outcome Matter?
This go around, I expect Pasok will reluctantly cave in and form a coalition with New Democracy. The price might be high, such as demanding the much despised Antonis Samaras to step aside.
Regardless, does the outcome matter?
Athens (AFP) - Anti-austerity party Syriza won a historic victory in Greece's election Sunday, partial results showed, setting up a confrontation with the EU over its plans to renegotiate the country's massive bailout.
Alexis Tsipras’s Syriza party defeated Prime Minister Antonis Samaras’s New Democracy to place first in Greek elections, exit polls showed, after a backlash against years of budget cuts demanded by international creditors.