Greece is to hold referendum

2011-11-01 11:46:58

European leaders reached an agreement Thursday aimed at shoring up the region's banks and preventing a severe debt crunch in Greece from
bringing down Europe's financial system. But the European debt crisis is still far from fixed. One troubling sign is that borrowing costs for Italy and
Spain have increased, a signal that traders remain worried about those countries' ability to pay their debts. Complicating the picture further was the
announcement by Greek Prime Minister George Papandreou on Monday that his debt-strapped country will hold a referendum on whether to accept
the European debt deal. UAIndex value declined slightly.