After the head of the European Central Bank suggested some of Greece's banks would collapse, stocks and commodities plummeted on Wednesday.
The aid given to Greece will only save its most viable banks and will weed out the weak ones.
France, Germany, Britain, Russia, and the US's stock markets were also pulled down.
The price of gold and oil also fell but medium and long-term US Treasuries went up in price.
The situation in Greece is leaving many uncertainties in the world economy.
1 comment:
I think Greek's problem is not just about being bailout, or keeping the economy going. It is a fundamental problem with the structure and system of the government. They are similar to U.S. in the sense that they spend but do not earn enough income.
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