European Debt Woes Stalk Markets

share: digg facebook twitter LONDON (AP) — Worries over Europe's debt crisis kept markets on edge Monday, following a warning over Italy's credit rating and a failure by eurozone finance ministers to agree an immediate release of bailout funds to Greece. With the Greek government facing a confidence vote in Parliament on Tuesday, there's still an element of political risk and that's clearly weighing on markets at the start of a week that's likely to be dominated again by the country's woes. Though Prime Minister George Papandreou's newly-reshuffled government is expected to prevail in the confidence vote, there's still uncertainty over the passage of another euro28 billion in austerity measures. "[...] markets see some solid plans put in place to deal with Greece, the markets are only going to be heading in one direction," said Simon Furlong, a sales trader at Spreadex.

 

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