Greek Prime Minister George Papandreou called a referendum and a parliamentary confidence vote, raising the prospect of derailing Europe’s bailout effort and pushing Greece into default. Stocks and the euro tumbled.
Papandreou has been losing popularity with this country with the austerity measures being taken to prevent Greece from going bankrupt.
With these news and the possibility that Greek voters will vote down the European bailout plan, the markets around the world have tumbled.
Dow futures are down by 164 points as of this morning. NASDAQ futures are down a little over 44 points. S&P 500 futures down by almost 26 points.
For details on this vote, click here.
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