Shares drop with Greece uncertainty

Published:  15 May at 3 PM

As reported by the BBC, stocks have fallen around the globe as Greece's sustained political uncertainty challenges investor confidence.
Still struggling to create a coalition government, Greece is faced with the threat of holding new elections, as EU leaders convened in Brussels.

Luxembourg PM Jean-Claude Juncker said that Greece outside the euro region was not a topic of debate. Worst hit have been bank shares, especially in France and Spain.

The American benchmark Dow Jones index finished down by 1%, while Germany's Dax and London's FTSE 100 share index both fell by 2%. The euro also dropped, down by 1% against the UK pound.

Again, the undermining issue is the future of the eurozone. EU finance ministers previously met in Brussels to talk over the situation in Spain and Greece.
Mr Juncker, who also leads the 17-country Eurogroup, stated that there was a strong desire to retain Greece in the eurozone. He said his team would do all that is possible to achieve this goal.

Greece's lack of elected government undermines its ability to follow austerity measures forced upon it as part of its economic bailout. Without sticking to agreed cuts, the country will not receive the rest of the bailout funds needed to function.