Hardline Germany is leading a chorus of scepticism as eurozone finance ministers study leftist Greek Prime Minister Alexis Tsipras's new reform plan for a third rescue package worth more than USD 89 billion.
The euro weakened against major world currencies, trading just above USD 1.10 against the US dollar.
“We see more upside than downside in emerging markets. We see current weakness as an opportunity to buy our overweight markets,†says Adrian Mowat, JPMorgan.
A Greek exit from the euro zone would be manageable but is not desirable, said Eurogroup President Jean-Claude Juncker.
As economies of the United States and Europe sputter and investors shun equities because of their volatility, Asian sovereign bonds are increasingly gaining favor as an alternative safe haven.
Greece's new government should stop asking for more help and instead move quickly to enact reform measures agreed to in return for previous bailouts from its European partners, German Finance Minister Wolfgang Schaeuble said on Sunday.
Indian gold shed more than half a percent on Monday to trade near its lowest level in a week, weighed by global markets, but physical traders were unwilling to book deals awaiting further price falls.
Gold fell for the first time in seven sessions on Monday as the risk of a Greek exit from the euro zone subsided after parties backing a bailout for the country won an election, denting the metal's safe-haven appeal.
Moody's Investors Service said on Friday it had downgraded five Dutch banks, four of them by two notches, and warned a Greek exit of the euro would see further cuts, kicking off a long-awaited round of downgrades for major European institutions.
Moody's Investors Service cut its credit ratings on Cyprus' sovereign debt by two notches o n Wednesday, citing rising risks of a Greek exit from the euro currency and an already strained fiscal position.
Moody's Investors Service said on Friday that a Greek exit from the euro could pose a threat to the currency's existence.
Trevor Williams, chief economist, Lloyds TSB talks about the continuing negative news stemming from the euro zone. He says the immediate concern is Greece as it is closer to an exit but does acknowledge that the other worries - Spain and the euro are not too far behind.
Europe continues to steer global markets, says Richard Ross, global technical analyst at Auerbach Grayson. He says that a little clarity or positive newsflow would go along way into pushing global markets higher.
Investors have little choice now but to cling to low-yielding US government debt as European leaders ponder a messy Greek exit from the euro zone, Pimco's Bill Gross told CNBC.
Gold tracked the euro lower on Friday en route to its weakest monthly performance since December, pushed down by fears the debt crisis in Europe could spiral out of control and trigger a global economic slowdown.
With a dangerously falling rupee, the larger theme that investors are now asking is where is the growth going to come from for us to tackle our domestic quandaries? Read on for more...
With talks of Greece exiting the eurozone, global markets and the European markets have been volatile over the last few weeks. In an interview with CNBC-TV18, Sarah Hewin, head of research for Europe with Standard Chartered Bank speaks about the possible scenarios in Greece and Europe in the next few weeks.
In an interview to CNBC-TV18, Steven Englander, global head of forex strategy at Citibank finds that there is a lot of pretense between the European Central Bank and the Greek politicians.
Michael Spencer, chief economist - Asia Pacific of Deutsche Bank expects the impact on real economy by LTRO 2 to be very strong.