Euro
markets down after Greece voted against bailout
program
July
6, 2015
The single
currency dropped sharply against the U.S Dollar, while the European equities
opened lower after the Greece referendum on Sunday, as 61%
of Greeks voted “no” for the bailout program and its creditors conditions. And
Greek Prime Minister Alexis Tsipras said Sunday that the country is ready to
continue negotiating with a plan of reforms.
However the
vote has raised fears about the exit of the country from the Euro area and its
consequences for the European economy. So the European leaders called for a
summit on Tuesday to discuss the next move for Greece
and the possible proposals for this issue. On the other hand, the investors will
keep a close eye on the outcomes of the Federal Reserve monetary policy meeting
due on Wednesday July 8th 2015 which is expected to provide new sings
about the timing of raising the interest rates. While the U.S Dollar recovered
from its previous losses for the last week after the release of disappointing
U.S jobs data.
