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Greece Sparks Most Volatile Trading Day in Four Years
from Casey Research
The Greek situation just hit its boiling point…
Last week, we told you that Greece was ready to erupt. It owes lenders €240 billion ($260 billion) that it can never repay.
Greece defaulted yesterday when it missed a €1.6 billion ($1.72 billion) payment to the International Monetary Fund (IMF). Greece had met with its creditors over the weekend to try work out a deal, but the two sides couldn’t reach an agreement.
The next important date to watch is July 5. That’s when Greek citizens will vote on whether to accept an emergency loan from Greece’s creditors. Accepting the loan would require Greece to raise taxes, cut entitlements, and reform its pension program. If the Greeks vote “no,” Greece might leave the eurozone.
Continue Reading at CaseyResearch.com…
Source: http://financialsurvivalnetwork.com/2015/07/greece-sparks-most-volatile-trading-day-in-four-years/?utm_source=rss&utm_medium=rss&utm_campaign=greece-sparks-most-volatile-trading-day-in-four-years
