The Greek situation may literally be entering its final hours, with major developments expected over the weekend.
Everyone is selling today.
France is down 1%. Germany is down 0.73%. Shanghai fell 0.8%.
Amusingly, Greek stocks themselves are up 1%, a move that's more humorous than anything else, as it's the tiniest and most meaningless of dead-cat bounces.
If it counts as a "development", a new finance minister was named: Evangelos Venizelos is replacing George Papaconstantinou, who has been relegated to minister of the environment.
Meanwhile, oil and silver, but especially oil, are getting destroyed.
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See Also:
- Tons Of Developments On The Greek Political Front -- Catch Up Here
- Okay, Now The Market Is Starting To Flush
- What Europe's Leaders Know: Bondholder Haircuts Could Equal Defaults And Runs On Banks
Source: http://feedproxy.google.com/~r/businessinsider/~3/ue56e4LNOHg/morning-markets-june-17-2011-6
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