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Markets drop on Greek referendum 'grenade'

Investors react to news that Greece intends to hold a referendum on its latest bailout agreement, despite the unpopularity of the deal.

Updated 18.22

GLOBAL FINANCIAL markets have fallen following the Greek prime minister’s unexpected announcement last night that the country would hold a referendum on its second bailout deal.

Minister of State for European Affairs Lucinda Creighton told TheJournal.ie that the move ‘makes life much more difficult for Ireland – we depend on the eurozone being stable, we depend on the issue of Greek debt being managed, and this has created chaos on the European markets today’.

Creighton said that the announcement ‘called into question’ the deal which was agreed just days ago on the Greek debt crisis.

Earlier, Creighton told Reuters that she expected a lot of annoyance among other EU politicians in reaction to the Greek decision, and compared the announcement to a “grenade” thrown just days after the deal.

Nicolas Sarkozy and Angela Merkel are to discuss the Greek news today. Swedish Foreign Minister Carl Bildt tweeted earlier: “I truly fail to understand what Greece intends to have a referendum about. Are there any real options?”

Meanwhile, Greek opposition politicians likened the referendum to blackmail against Greek citizens.

Stocks down

Stocks opened sharply lower in the US this morning on foot of the news from Greece, while Asian markets dropped one to two per cent overnight.

The FTSE 100 fell 2.9 per cent earlier today, while Germany’s DAX dropped 4.9 per cent and the French CAC-40 was down 4.7 per cent. Greek and Italian shares are down over 6 per cent, while the ISEX has fallen by 3.4 per cent.

Last week’s EU summit agreement on the second bailout deal for Greece had initially bolstered the markets, but that temporary shine has seriously worn off, with investors showing today that they do not have confidence that Greek Prime Minister Papandreou can pull off a successful referendum on the hugely unpopular Greek bailout.

Papandreou’s party has just a two-seat majority in the parliament after one member resigned from the party today. The government faces a confidence motion at the end of this week, and it is unclear if it will pass.

- Additional reporting by the AP and Christine Bohan

Read: Greece to hold referendum on new debt deal >

Read: Merkel apology to Berlusconi denied, as Sarkozy criticises Greek euro entry >

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12 Comments
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    Mute bmul
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    Jun 2nd 2018, 6:11 PM

    You should not be allowed into the voting booth with anyone else.

    390
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    Mute Barry Somers
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    Jun 2nd 2018, 6:56 PM

    @bmul: even if it’s a parent with a child?

    49
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    Mute Anthony newey
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    Jun 2nd 2018, 7:00 PM

    @Barry Somers: obviously someone else who is voting .Should not have to say that.

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    Mute bmul
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    Jun 2nd 2018, 7:00 PM

    @Barry Somers: infant ok otherwise no

    46
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    Mute Coco86
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    Jun 2nd 2018, 7:06 PM

    @bmul: I bring my autistic sister into the booth to vote. She wouldn’t be able to otherwise.

    34
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    Mute EvieXVI
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    Jun 2nd 2018, 7:44 PM

    @bmul: my children are always welcome with me, and I don’t know why anyone would a problem with that…

    20
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    Mute bmul
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    Jun 2nd 2018, 7:48 PM

    @EvieXVI: depends if your children are old enough to vote

    31
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    Mute EvieXVI
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    Jun 2nd 2018, 7:58 PM

    @bmul: No, they’re not. I should have clarified. But they’re not infants…

    9
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    Mute Tom Molloy
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    Jun 2nd 2018, 6:24 PM

    RIP 97% healthy babies to healthy mothers.

    274
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    Mute Kerry Blake
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    Jun 2nd 2018, 6:29 PM

    @Tom Molloy: Dramatise much Tom?

    273
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    Mute Celtic_Horizon
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    Jun 2nd 2018, 6:42 PM

    @Tom Molloy: So 97% of all pregnant women are goig to abort? Bit dramatic aren’t you

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    Mute Dotty Dunleary
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    Jun 2nd 2018, 7:00 PM

    @Tom Molloy: RIP to your account on here hopefully…

    90
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    Mute Louise O
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    Jun 2nd 2018, 10:22 PM

    @Tom Molloy: that 97% statistic I presume refers to the 97% of women who gave mental health as a grounds for abortion in England (and not the absurd notion that 97% of healthy babies are aborted)…Firstly, a woman with mental health issues so severe that she requires an abortion is not a “healthy” mother and comparing to England is not valid in Ireland. For one, most Irish women who require abortions go to England, and inflate their abortion figures and two, the law in Ireland will be different to that in the UK. It will be more restrictive and the requirements that need to be met after 12 weeks will be more rigorous.

    41
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    Mute Dermot Breen
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    Jun 2nd 2018, 11:40 PM

    @Louise O: thank you Louise O. At least some people know what there talking about and not ranting on assuming stupid things…

    14
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    Mute Mickey Fennessy
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    Jun 3rd 2018, 1:48 AM

    @Tom Molloy: u might read your posts before posting

    8
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    Mute The Risen
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    Jun 2nd 2018, 6:08 PM

    Had my daughter with me when I voted. It was a moment I’ll never forget. An Ireland where she will be equal in every respect became a giant step closer with the Catholic churches jackboot being finally taken off women’s necks.

    303
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    Mute Dearbhla Russell
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    Jun 2nd 2018, 6:23 PM

    @The Risen: went with my mother and my daughter. 3 generations. It was poignant. Im so proud of the result!!

    181
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    Mute The Risen
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    Jun 2nd 2018, 6:26 PM

    @Dearbhla Russell: When I heard that Bishop yesterday talking about how inappropriate the celebration was, he’s either too ignorant to know or too dishonest to admit that we were celebrating choice and a post catholic church Ireland, rather than abortion.

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    Mute Beyond Belief
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    Jun 2nd 2018, 6:32 PM

    @The Risen: We’re not post catholic church just yet. Next up, indoctrinating children.

    62
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    Mute Colette Kearns
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    Jun 2nd 2018, 6:35 PM

    @The Risen: same here had my son with me , it was his first time to vote & he made up his own mind to vote “ yes” without any input from me!

    58
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    Mute Karen NíDhochartaigh
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    Jun 2nd 2018, 6:36 PM

    @The Risen: for me there was no celebrating. Just a sigh of relief that finally woman will have a say in their own healthcare. Any celebrations will be saved until finally legislation is passed.

    68
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    Mute helen walsh
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    Jun 2nd 2018, 6:59 PM

    @The Risen: she could still be all of those things by voting on her own.

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    Mute Steve1234
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    Jun 2nd 2018, 7:01 PM

    @Beyond Belief: Yea indoctrinate them with liberal politically correct dogma instead

    55
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    Mute Steve1234
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    Jun 2nd 2018, 7:01 PM

    @The Risen: Your granddaughters won’t be equal when they’re unborn

    70
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    Mute The Risen
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    Jun 2nd 2018, 7:29 PM

    @Steve1234: Why are you assuming my daughter would CHOOSE an abortion, when the vast majority of pregnancies are not terminated?

    Silly goose.

    76
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    Mute bmul
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    Jun 2nd 2018, 7:34 PM

    @The Risen: don’t think he understands it’s not compulsory.

    64
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    Mute EvieXVI
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    Jun 2nd 2018, 7:46 PM

    @The Risen: @steve1234 is obviously trying to get comments closed again.

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    Mute Nick Drake
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    Jun 2nd 2018, 8:23 PM

    @Beyond Belief: In what way do you want to indoctrinate children?

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    Mute Beyond Belief
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    Jun 2nd 2018, 8:29 PM

    @Nick Drake: I don’t. Unless you consider teaching children facts rather than fables ‘indoctrination’.

    22
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    Mute Nick Drake
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    Jun 2nd 2018, 8:43 PM

    @Beyond Belief: would you respect them if they choose to have faith? I myself am not religious at all but but there are many people who have a religious faith, I respect that right, do you? Or is your tolerance selectively limited to your own values and what you believe is right? Facts are facts, that is without question but ones values are individual and therefore subjective. If you remove the idea of the church as an institution and all of its shortcomings, would you not agree that society should be tolerant of people of faith?

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    Mute Beyond Belief
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    Jun 2nd 2018, 8:54 PM

    @Nick Drake: I respect their right to believe whatever they want. The issue is where school time and taxpayer money is used to indoctrinate children. The parents should indoctrinate them in their own time if its that important to them.

    24
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    Mute Shane Barry
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    Jun 3rd 2018, 5:06 AM

    @Nick Drake: society sound be tolerant of faith, but how is it tolerant to force a religion on a young child. Let school be for fact and let them decide themselves what religion if any they want to be

    6
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    Mute Fionn_Oisín
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    Jun 3rd 2018, 8:22 PM

    @The Risen: This has nothing to do with ‘the church’.

    1
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    Mute Angel Eyes
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    Jun 5th 2018, 10:22 PM

    @The Risen: My body my choice right , Are you in are you in Decriminalizing all drugs , like what right has anyone or any government have to tell me what i can and cannot put into my own body .

    3
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    Mute Dotty Dunleary
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    Jun 2nd 2018, 6:39 PM

    Who else is getting serious post-referendum news fatigue here?

    It passed now, move on!!!

    137
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    Mute johnp
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    Jun 2nd 2018, 6:50 PM

    @Dotty Dunleary: same here

    33
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    Mute Dotty Dunleary
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    Jun 2nd 2018, 6:56 PM

    @johnp: Just waiting on the usual shower to post up their utter carp on here now, cut n paste time!… :-/

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    Mute Padraic Reid
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    Jun 2nd 2018, 8:03 PM

    @Dotty Dunleary: Just forget about the children about to be killed.

    25
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    Mute The Risen
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    Jun 2nd 2018, 8:06 PM

    @Padraic Reid: What children??

    17
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    Mute Dotty Dunleary
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    Jun 2nd 2018, 8:20 PM

    @Padraic Reid: As if by magic here you are to prove my point… Sad..

    17
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    Mute Joe O'riordan
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    Jun 2nd 2018, 9:01 PM

    @Dotty Dunleary: everyone against your view is either mad or should have their account disabled . My fascist friend….

    12
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    Mute Martello Mulligan
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    Jun 2nd 2018, 6:39 PM

    Did you check with the person in the photo to confirm that they are “celebrating”? Maybe they are showing relief that choice has been extended? Or maybe they are just catching a boomerang?

    65
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    Mute Dotty Dunleary
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    Jun 2nd 2018, 6:59 PM

    @Martello Mulligan: Probably thought it was an Ed Sheeran concert… wrong venue… oopps!

    37
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    Mute helen walsh
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    Jun 2nd 2018, 7:10 PM

    We are getting there, marriage referendum, now abortion referendum, exposing clerical abuse! Tuam babies, Magdelene laundries. Next separation of state and church as it should be, Catholic Church out of schools, expose the terrible physical and psychological abuse suffered at the hands of teachers in the past and not so distant past, so many shocking accounts must be dragged into the light of day…

    66
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    Mute Steve1234
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    Jun 2nd 2018, 8:41 PM

    @helen walsh: Why should Catholic tax paying parents not have catholic schools?

    80
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    Mute Ricky Spanish
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    Jun 2nd 2018, 8:53 PM

    @Steve1234: Your taxes should go towards the state education system which of course should be non-religious. If you want to send your children to a religious school by all means do but the state should not fund them. If you feel that strongly pony up the cash.

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    Mute angryDuck
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    Jun 2nd 2018, 9:43 PM

    @Steve1234: I was baptised Catholic but have since learnt to use my, natural selection given, intellect to see through the sky fairy nonsense. The crazy thing is, our taxes are used to fund the only 2 local schools, both with a Catholic ethos. We have to play along with the charade to have our children educated. You can be damn sure that great fun is had deprogramming learnt the nonsense. Once again, people in this country need CHOICE.

    20
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    Mute Tomás Ó Briain
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    Jun 2nd 2018, 9:57 PM

    @Steve1234: If you’re a taxpayer you are entitled to the same as everyone else, nothing more, nothing less. If Roman Catholic taxpayers are entitled to sectarian schooling they should pay the entire cost of providing and running their schools. As it stands at present even Roman Catholic Churches and other buildings are subsidised by all taxpayers. This benefit should be withdrawn in the interest of the equality you appear to be seeking. Consider the saying ‘Render into Caesar…….’

    16
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    Mute Mark H
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    Jun 2nd 2018, 10:08 PM

    @Steve1234: because your religion should not dictate how your taxes are spent. Religion is a choice, education is provided by the state which should not be considering religion in its provision of services. What about tax payers of other or no faith?

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    Mute Steve1234
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    Jun 2nd 2018, 10:18 PM

    @Mark H: They should have their own tax payer funded schools, like Catholics, Protestants, Jews who have faith schools.

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    Mute Steve1234
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    Jun 2nd 2018, 10:20 PM

    @angryDuck: I agree with choice when it comes to schooling and parents wishes should be respected

    9
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    Mute Mark H
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    Jun 2nd 2018, 10:27 PM

    @Steve1234: completely impossible except in large urban areas. How could a small town in roscommon provide for every faith in the town. State funded services should not discriminate or favor one section of society even if it is in the majority.

    16
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    Mute Angela Cunningham
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    Jun 3rd 2018, 1:05 AM

    @Steve1234: they all flock to the catholic schools in other countries because thats where they are getting the best education!! If the state decides to stop funding Catholic schools and the Catholics got their own little schools, the pagans would soon be whinging again looking to come back in!!! They are never happy and they can never be!!

    15
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    Mute Conor Heffernan
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    Jun 2nd 2018, 7:05 PM

    No concerns were raised about the use of pencils I suppose….

    44
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    Mute Mark H
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    Jun 2nd 2018, 10:03 PM

    @Conor Heffernan: pens run out of ink, leak and can sometimes not work. A pencil might just need to be sharpened every 100 votes!

    6
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    Mute Skimothy
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    Jun 2nd 2018, 8:12 PM

    Let it go guys. It was a yes vote. You don’t have to still smother us with articles on it.

    38
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    Mute Joseph Flannery
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    Jun 3rd 2018, 2:23 AM

    I think if the amendment compromised woman’s health or lives it had to go but as can be shown from what has happened on other countries , this will not help or emancipate women in any way . Abortion will wound hurt traumatise and break women’s hearts. It will lead to even less support for mothers as services and benifits are cut as abortion becomes a solution for mothers experiencing abuse or poverty rather than giving them real support. Life is precious and sacred we are made in gods image and likeness , our lives have meaning and matter. .

    29
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    Mute Neville Patterson
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    Jun 2nd 2018, 6:45 PM

    This is so last week

    25
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    Mute Barry Somers
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    Jun 2nd 2018, 6:17 PM

    Seems to be a big lack of info about SDAI-ADID online, their website really doesn’t have that much info.

    24
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    Mute steve white
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    Jun 2nd 2018, 6:43 PM

    @Barry Somers: another small Canadian NGO observed the marref http://isca-aidc.ca/Ireland-Referendum-Report.pdf

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    Mute steve white
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    Jun 3rd 2018, 12:00 AM
    2
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    Mute Joseph Flannery
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    Jun 3rd 2018, 2:23 AM

    We know where abortion goes in other countries . One in five babies are aborted in France Spain uk and us. In the us there are 3000 babies killed in the womb every dAy . In the uk it’s 600 a day and almost 200,000 a year . Some places even higher. In New York one on three babies are aborted. 90 percent of babies diagnosed as Down syndrome being aborted in uk. Why were these hard questions never asked of pro choice element by the media? Dogmatic secularism has won out . In 1983 dogmatic Catholicism swayed the electorate.

    25
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    Mute James Keogh
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    Jun 2nd 2018, 10:10 PM

    Those observing Countries would want to be careful and not make any favourable Yes comments, lest the Bishop of Waterford finds them in Breach and condemns them, to Him hearing their Confession.

    10
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    Mute Kevin Barr
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    Jun 2nd 2018, 9:22 PM

    Priests telling people to go to confession for what they don’t already believed in kop on nation and let’s get the truth for once , redress for magelaines sorted today , just another cover up by the state , there will be thousands involved in this , full public independent inquiry doesn’t cover criminal behaviour !

    12
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    Mute Robin Tobin
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    Jun 2nd 2018, 9:31 PM

    @Kevin Barr: blessed are those who voted no. They no fools like the yes voters were fooled into thinking this was about inflicted women’s right. GP led between inflicted female and her doctor. Since vote passed Monkey Harris is bring forwards legislation o people cannot protest outside abortion clinics or abortion centre, Ruth Coopinger is seeking the 72 hours is dumped and of course not to forget the well woman centre want to hand out abortion pills. Looks like you were all fooled into voting for abortion on demand. But then if the no side point this out the yes side reply is to get over it.

    56
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    Mute Philip Murphy
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    Jun 2nd 2018, 8:30 PM

    I bet she’s all over the gender pay gap issue

    13
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    Mute Kevin Barr
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    Jun 2nd 2018, 10:20 PM

    Didn’t see many of the no supporters in Liverpool or Manchester or London , but paid to come in for a no vote hard luck bout time the whole lid was lifted about the abuse this cult has caused on a small island !

    8
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    Mute bmul
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    Jun 2nd 2018, 11:50 PM

    @Kevin Barr: all over the world

    3
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    Mute Niallers
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    Jun 2nd 2018, 10:56 PM

    I had my children with me. Asked beforehand.

    6
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    Mute Dermot Breen
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    Jun 2nd 2018, 11:47 PM

    Why do we need observation from UK US and Canada… God botherers should have nothing to do with politics… We are are own country and should not be influenced by the outside. The people of Ireland have spoken, the pride of Ireland burns deep and will never be extinguished

    5
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    Mute Fionn_Oisín
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    Jun 3rd 2018, 8:35 PM

    @Dermot Breen: This has nothing to do with ‘the church’.

    9
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    Mute Kevin Barr
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    Jun 2nd 2018, 10:21 PM

    Blocked for the truth can only be direland !

    3
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    Mute Susan Riordan
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    Jun 12th 2018, 4:54 PM

    Congratulations to the 1.4m who voted “Yes. I can’t believe that so many were hoodwinked into voting for abortion on demand. May God Help them. It’s not the Church that will suffer but generations of unborn children.

    1
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    Mute Irfan
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    Oct 19th 2018, 2:44 PM

    A debt of gratitude is in order for setting aside an ideal opportunity to talk about this, I feel emphatically about it https://pricecrashfurniture.co.uk/by-brand/d-k/jual-furnishings.html

    1
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