Greek Election Results Could Spur Global Financial Crisis
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iStockphoto/Thinkstock(ATHENS, Greece) — Greek voters may hold the future of global banks and the single currency euro in their hands when they head to the polls on Sunday for the country’s Parliamentary election.
One of the two leading parties is opposed to the austerity measures placed on Greece in exchange for its financial bailout. Should the party gain control of the country’s government, they could scrap the bailout and withdraw Greece from the euro, setting off a chain reaction that may lead to the failure of a number of banks worldwide.
The world’s central banks are said to be standing ready to act in case of a financial crisis.
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