1. Surprise Greek Referendum Stuns Market, European Stocks Tumble The decision by the Greek Prime Minister to call a surprise referendum on the latest terms of the bailout for his country has caught his fellow European politicians, as well as the markets, completely by surprise. The move is a risky gambit because there is the very real possibility that put to a vote the people will vote “no” on further austerity measures. The people of Greece have suffered through a 3-yer recession, with the economy expected to contract 5.5% this year. A “no” vote would usher in the possibility of a messy disorderly default that ... (full story)