Greece crisis hits stock markets

greece-financial-crisis-cartoonGreece crisis has affected the stock markets in the world. Bourses began with losses fright from the beginning of Monday. Sensex lost 536 points while Nifti loss 166 points as the trading began.  It is evident that the crisis in Greece had influenced the stock markets in a big way. The Greece bankers gave a time limit up to June 30, for payment of arrears. Greece is in a situation to pay $ 1.8 billion in case the time limit is crossed. On the other economists said that Greece will have to quit the Eurozone. Meanwhile, Europe Central bank refused to provide emergency funds to banks in Greece. In view of this situation the Bank of Greece has given indications that banks would face closure by July 7.  Following the crisis account holders in Greece joined serpentine queues in front of the ATMs as the banks downed their shutters. And Greece imposed a condition to account holders not to withdraw more than 60 Euros daily.

Medaram Jathara

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