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Stock Markets "Jittery" As Protests In Greece Continue
By
Jen Chung
Published May 5, 2010
Modified May 5, 2010
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By
Jen Chung
Published May 5, 2010
Modified May 5, 2010
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Photograph of a riot police officer falling after being hit by a chair by Petros Giannakouris/AP
Stock markets around the world are "slumping" and "jittery" over worries about European debt, led by Greece's problems. Riots in Greece have left three dead after a fire bomb was set in an Athens bank. Protesters, who have thrown rocks and Molotov cocktails at parliamentary buildings, are upset with the government's measures to "contain Greece's spiraling debt." The austerity measures include freezing wages and higher taxes.
Hedge fund manager Dennis Gartman tells CNBC that he expects the European Union to collapse, "I think the whole thing will go down to defeat, the whole thing will eventually unravel... it doesn't look good." He suggested people get out of the stock market, "It means confusion, it means a stronger dollar, it probably means weak commodity prices. I think they should be out. People should be on the sidelines and out."
Tagged
debt
economy
euro
european union
greece
protest
stock market
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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