• Global DJIA reaches lowest level in over a year per MarketWatch
• Congressional funding bill delayed in Senate
• SBT: Multiple banks in Greece downgraded by Moody's
• Gold price falls $150 per Troy ounce in 5 days
• Sean Egan via CNBC: "1.8 Trillion Euro debt bailout needed."
Image source: Peter Kratochvil
A tumultuous week for economies linked to European assets this week. With a Greek national bankruptcy looming, financial solvency has become a real concern for European financial institutions. This fear led to a steep declines in global stock markets and commodities prices; market volatility as measured by volatility in the S&P 500 (VIX) also approached two year highs. Leaders and economy watchers remain confident and optimistic that eventually this will all be solved, however a statement by the Federal Reserve Bank earlier this week seems to indicate this solution won't be in the very near-term.
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