Greece's Prime Minister Alexis Tsipras is to hold an emergency government meeting at midday London time, according to Greek media reports.
With the result of Greek elections just hours away, former Greek Prime Minister George Papandreou said that the result will reflect the pain of austerity, rather than a rejection of Greece`s membership in the euro zone.
Tim Dickson of Invesco Perpetual expects to see range bound markets going forward. However, he feels that the downside risks for the markets are relatively limited. Moreover, he pointed out that he is not optimistic about a rally in emerging markets this year. The markets will continue to remain event driven in 2012, he added.
In many ways, the mild-mannered Papandreou has been an anomaly in the high-handed, macho world of Greek politics.
Gary Baker, head of European equity strategy at BofA Merrill Lynch Global Research feels 10-15% downside might be possible in the short-term, but the valuations still look supportive.
In an interview to CNBC-TV18, Richard Ross, global analyst of Auerbach Grayson says, the global markets get into another critical weekend empowered by another critical week of trading of course next week.
US stock investors have had to take their own self-help course on living with uncertainty due to Europe's crisis, and they may need to draw on that next week because it's never clear when the next upheaval will come.
Greek Prime Minister George Papandreou survived a parliamentary confidence vote on Saturday, avoiding snap elections which would have torpedoed Greece's bailout deal and inflamed the euro zone's economic crisis.
As the world struggles to get a grip on the situation, a panel including James Lamont, the South Asia bureau chief of The Financial Times; Paul Beckett, the South Asia bureau chief of The Wall Street Journal and Meghnad Desai, the emeritus professor of Economics Lord discuss the implications of all these issues.
Greece's Prime Minister has told Sky News that the referendum on the eurozone bailout plan will no longer go ahead - and it was never his intention for it to happen.
A surprise 25 bps rate cut by ECB and Greece calling off the referendum gives Wall Street its second session of strong gains. Major indices are back into positive territory for the year. European markets too closed higher.
The crisis in Greece is turning worse by the minute. The government has lost its majority in parliament. Papandreou is now left with the support of just 149 MPs in a parliament of 300.
It may well be remembered as the day the euro zone began to break apart.
Greece's government was on the brink of collapse on Thursday, casting doubt on plans for a referendum on staying in the euro, as European leaders talked for the first time of a possible Greek exit to preserve the single currency.
Greece continues to remain the epicentre of the European crisis. The Greece cabinet has backed Prime Minister George Papandreou’s referendum proposal.
The Greek government teetered on the brink of collapse on Thursday over plans for a referendum on a euro zone bailout, with ruling party defections casting grave doubt on whether Prime Minister George Papandreou can survive a confidence vote.
In an interview to CNBC-TV18, Richard Gibbs, global head of Macquarie Securities says, it will be a period of sustained volatility and brinkmanship till December 4.
Financial markets worldwide are eagerly awaiting the G20 meet to get pave the course for the months to come. However, David Buick, partner at BGC tells CNBC-TV18 that he expects absolutely nothing to emerge from this meet.
Difficult decisions must be taken swiftly to address economic challenges in Europe and elsewhere, Prime Minister Manmohan Singh said in a statement before leaving for the two-day Group of 20 leaders' summit in France starting on Thursday.
Alastair Newton of Nomura International speaking to CNBC-TV18 spoke about the possible ramifications of the Greek referendum and why Europe is reacting so violently to it.
Greek Prime Minister George Papandreou fought off a barrage of criticism to win the backing of his cabinet on Wednesday to push ahead with a referendum the government said would take place as soon as possible on a European Union debt bailout deal.
The US markets finished near lows in volatile trading as investors digested a handful of headlines from Greece. The CBOE volatility index surged more than 15% to end near 35.
The US markets finished near lows in volatile trading as investors digested a handful of headlines from Greece. The CBOE volatility index surged more than 15% to end near 35.
In an interview with CNBC-TV18, David Buick, Partner, BGC talks about the latest developments emerging from the eurozone.
The rupee was down nearly a percent in afternoon trade on Tuesday, pummelled by soft domestic equities and euro, as fears Europe's debt woes would worsen dented risk appetite globally.