Economic Collapse: Stock Markets Crash After Greece Rejects Bailout Terms
On Sunday July 5th, Greece’s referendum went in favor of Prime Minister Alexis Tsipras, prolonging market uncertainty and stoking fears of an economic collapse in the Mediterranean region.
With most ballots counted, 61% of the country overwhelmingly voted against an austerity program from the European Union and the International Monetary Fund (IMF), backing their government’s hard line negotiating strategy.
Markets were down early morning on Monday July 6th. Milan’s FTSE MIB Index was 2.9% lower and Madrid’s IBEX 35 shed 2.1% as investors worry about contagion spreading to Italy and Spain. (Source: The Wall Street Journal, July 6, 2015.)
Continue Reading>> Economic Collapse: Stock Markets Crash After Greece Rejects Bailout Terms
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