Turbulence in the Stock Markets
The result of yesterday’s vote in Greece whether to accept or refuse the latest round of austerity measures that were due to be instigated before any additional funding was provided to Greece was not really an unexpected result.
However, with the nation deciding to vote no in very large numbers this had had some immediate effects on international stock exchanges with many of them reporting losses in the opening hours. In fact the situation in Greece has just been made a little worse with the resignations of their Finance Minister.
In early trading in London the FTSE 100 index of leading shares has dropped in value by 0.5 per cent taking it down to 6,553 in early trading, and both the German and French leading indices are showing a one percent loss overall.
Crisis meetings are being held tomorrow on Tuesday by leading EU Ministers in regards to how they can address this current situation, and with Greece seeking additional emergency funding from the European Central Bank to save at least one of their banks from going bust, this story is far from over.
Currently however the Forex markets do appear to be holding their own with not too much volatility, but that is something that will probably change tomorrow once those Ministers have made their minds up on how to handle this situation and whenever the ECB decides to lend additional funds to Greece.
If you are either a Binary Options trader or a Forex trader then you will not need us to tell you now really is the time you should be placing a range of very well thought out trades, for there are sure to be some very large gains made over the coming days if you are on the right side of those trades!
It will of course all be down to whether the there members of the EU are prepared to remain loyal and assist in additional funding to Greece, however with many nations in Europe already having their own financial problems back at home there are a lot of countries in Europe who would rather Greece existed the EU and all funding and bailouts were stopped.
Make sure you spend some time researching just which companies you place your Binary Options trades on in the coming days for there are likely to be many of them that are going to be very volatile in regards to their share prices, with banking institutions most at risk!