Greece votes ‘yes’

Wednesday, 29 June 2011 04:25

With 155 votes of 'yes' Greece has enough votes to pass the Austerity Bill.  Voting now continues to tomorrow, facing implementation laws. 

The Greek Stock market shot down like a bullet after voting was through in the Greek Parliament.  Even though the Austerity measures were accepted, the Greek General Index was cut in half from being 3% positive, to only 1.5% up.  As the Stock Exchange market shoots down, the Forex market is following.  The Euro spiraled downward from 1.4430 to 1.4380 within the matter of minutes, against the Dollar.

The Euro rebounded a short while later, as it is currently trading at 1.4410 versus USD.