There’s uncertainty over Europe’s debt crisis following elections in France and Greexe weighed on stock markets in Monday. The stock in Athens down a massive 8 percent at one stage. Investor still wait for election in Greece which resulted in a split Parliament with no party likely to be able to form a government. This situation of uncertainty looms for the bailed-out country, which is in its fifth year of recession and has over half its youth out of work following big spending cuts and tax increases in return for crucial international bailout funds.
This is bad because the country still don’t have any government and there’s possibily another general election will be held the next two months.
“Financial markets loath uncertainty, and so the reaction seen to the elections makes a great deal of sense,” said David White, a trader at Spreadex.
Greek situation make the shares suffer. Their trading 8.2 percent lower at one stage before recouping some ground alongside other European markets, to be trading 6 percent lower.
Reference :- CSMonitor