Europe News update

BBC NEWS UPDATE ON GREECE CRISES

• ·       It is the seventh general strike this year following tough reforms needed to receive a 110bn euro (£84bn) bail-out from international organisations.
• ·       “The EU leaders are at loggerheads over the issue: should Greece be allowed to do a soft, controlled, partial default on its debts which forces banks and pension funds to lose some of the money they lent to Greece?” BY Paul MasonEconomics editor, BBC Newsnight
• ·       On Wednesday, tens of thousands of activists and unionists gathered in Syntagma square in Athens, near parliament.
• ·       The events destabilised markets, with major indexes witnessing the biggest drop on Wednesday since 1 June, and the euro sliding more than 1% against the dollar.
• ·       Yields on Greece's 10-year bonds reached a record high of 18.4%.