Greek Market Turmoil

Oil prices fell sharply on Monday after Greece rejected bailout terms and as China rolled out emergency measures to prevent a full-blown stock market crash, adding to worries about poor demand growth amid global oversupply.

European shares sank almost 4 per cent and government bond yields in Italy, Spain and Portugal jumped on Monday as investors priced in a growing risk that Greece will be the first country to leave the euro.

The German minister said only the Greek people could decide whether the recession-struck country would stay in the euro.

Worries about the euro zone, already roiled by Greek political chaos, mounted as Spain slipped into a recession, pushing the euro to a four-month low while sluggish data out of the United States sent worrisome signs about a still-fragile recovery at the world's largest economy and top oil consumer.

Greece called a new round of elections for June 17 after coalition talks to form a government fell apart. The president said depositors were pulling hundreds of millions of euros out of banks, weakening the country's strained financial system. The main cause for investor worry was that Greece would pull out of the group of countries that use the eu...

After failed weekend talks to form a new Greek government, and China's move to cut the amount of cash that banks must hold as reserves, Asian stocks dipped.

Greece faced an uncertain future on Monday after a stunning election shake-up by parties opposed to further vital austerity cuts, sending shockwaves through markets on fears of renewed eurozone turmoil.

Asian stocks stalled Monday as investors remain unsure whether Greece will be able to work itself out of a debt crisis despite a weekend deal by the country's leaders aimed at implementing a controversial austerity program. Japan's Nikkei 225 index fell 0.6 percent to 8,752.64. South Korea's Kospi lost 0.4 percent to 1,920.80 and Australia'...

A wave of selling swept across Wall Street and stock markets around the world Tuesday after Greece's prime minister said he would call a national vote on an unpopular European plan to rescue that nation's economy. The Dow Jones industrial average finished down nearly 300 points. It swung in 100 point bursts throughout the day as investors re...

The crisis of the euro zone has finally hit the potholed road of real politics, with the Greeks now openly questioning whether their commitment to Europe and its single currency still matters more to them than control over their own future and economic well-being. During the two-year financial crisis, the wealthier countries of northern Euro...

A wave of selling swept across Wall Street and stock markets around the world Tuesday after Greece's prime minister said he would call a national vote on an unpopular European plan to rescue that nation's economy.

European leaders clinched a deal on Thursday they hope will mark a turning point in their two-year debt crisis, agreeing after a night of tense negotiations to have banks take bigger losses on Greece's debts and to boost the region's weapons against the market turmoil.

Oil prices fell sharply on Monday after Greece rejected bailout terms and as China rolled out emergency measures to prevent a full-blown stock market crash, adding to worries about poor demand growth amid global oversupply.

European shares sank almost 4 per cent and government bond yields in Italy, Spain and Portugal jumped on Monday as investors priced in a growing risk that Greece will be the first country to leave the euro.

The German minister said only the Greek people could decide whether the recession-struck country would stay in the euro.

Worries about the euro zone, already roiled by Greek political chaos, mounted as Spain slipped into a recession, pushing the euro to a four-month low while sluggish data out of the United States sent worrisome signs about a still-fragile recovery at the world's largest economy and top oil consumer.

Greece called a new round of elections for June 17 after coalition talks to form a government fell apart. The president said depositors were pulling hundreds of millions of euros out of banks, weakening the country's strained financial system. The main cause for investor worry was that Greece would pull out of the group of countries that use the eu...

After failed weekend talks to form a new Greek government, and China's move to cut the amount of cash that banks must hold as reserves, Asian stocks dipped.

Greece faced an uncertain future on Monday after a stunning election shake-up by parties opposed to further vital austerity cuts, sending shockwaves through markets on fears of renewed eurozone turmoil.

Asian stocks stalled Monday as investors remain unsure whether Greece will be able to work itself out of a debt crisis despite a weekend deal by the country's leaders aimed at implementing a controversial austerity program. Japan's Nikkei 225 index fell 0.6 percent to 8,752.64. South Korea's Kospi lost 0.4 percent to 1,920.80 and Australia'...

A wave of selling swept across Wall Street and stock markets around the world Tuesday after Greece's prime minister said he would call a national vote on an unpopular European plan to rescue that nation's economy. The Dow Jones industrial average finished down nearly 300 points. It swung in 100 point bursts throughout the day as investors re...

The crisis of the euro zone has finally hit the potholed road of real politics, with the Greeks now openly questioning whether their commitment to Europe and its single currency still matters more to them than control over their own future and economic well-being. During the two-year financial crisis, the wealthier countries of northern Euro...

A wave of selling swept across Wall Street and stock markets around the world Tuesday after Greece's prime minister said he would call a national vote on an unpopular European plan to rescue that nation's economy.

European leaders clinched a deal on Thursday they hope will mark a turning point in their two-year debt crisis, agreeing after a night of tense negotiations to have banks take bigger losses on Greece's debts and to boost the region's weapons against the market turmoil.