Greece's unilateral decision to call a referendum to accept or reject the help of the European Union agreed last week captures the attention of the markets, which are again in maximum tension.
If Greece goes into default, which in fact has already happened, and removes 50% of the debt, is a check that technically already in default, they are almost automatically "infected" economies of Italy, whose internal problems are severe, and Spain, despite an electoral process in place that should give the new government a boost of confidence, does not resolve the real estate bubble burst three years ago, which led to her , according to official reports, over 22% unemployment in October.
This almost explosive combination of negative data can, this time, a decisive impact in the currency that brings out all these nations, the euro.
The G20 summit which begins on Thursday in Paris can lead to an ad that takes comfort to the markets, anyway, every day will create a leadership less worn and no room to maneuver.
On the other hand, in the U.S. began two-day meeting of the Federal Open Market Committee, will announce today the decision on the level of interest rates. After the Fed chairman, Ben Bernanke, will hold a news conference. The target range for the federal funds rate will likely remain unchanged, with the upper limit on the level of 0.25%. The more interesting question is whether the Committee is discussing some additional stimulus measures, including some form of quantitative easing, despite the acceleration of economic growth in the third quarter.
