Greece’s victory over Confidence Vote

Wednesday, 22 June 2011 11:12

Greece's crucial Confidence Vote was announced last night, late European hours.  Greece's government survived the confidence vote; important to avoiding a Greek default. 

Greek Prime Minister, Geroge Papandreou, won over the vote with 155 to 143.  If Greece would default, not only the country's economy woud go spiraling down, but it would take Europe down too.

The positive vote lifted world markets

The Euro spiked above 1.43 to 1.44 against the Dollar during late European trading hours last night, peaking at a week high of 1.4435 before easing down.  Currently Euro/Dollar is trading around 1.4390, reaching near 1.44 line again.