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Greek Referendum Risk Recedes

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Update: The risk of a Greek referendum on the bailout plans has receded during the course of the day and markets have reacted positively with the FTSE 100 finishing up over 1% and major European markets advancing by almost 3%. Papandreou has warned the Greek parliament that rejecting the deal would precipitate the exit of Greece from the Eurozone and, in response to demands for early elections and approval of the bailout plans, he has invited the conservative opposition to talks on the deal.

See also Greek Referendum and The Euro is still alive…