Stocks slide as euro pops on buzz that Greece is considering exit from European Union

The new MacBook “Stocks declined Wednesday as the euro got a boost from news that Greece was considering leaving the European Union,” CNBC reports.

“The euro clawed back against the dollar and other currencies amid buzz in the market that Greece is considering leaving the European Union,” CNBC reports. “A spokesperson for Greece categorically denied the debt-riddled nation is considering such a move.”

CNBC reports, “Earlier, the euro hit a four-year low against the dollar after German Chancellor Angela Merkel said the euro was in danger and as Germany banned naked short selling of some securities. This came as the SEC released proposed new rules on single stock trading, to prevent a stock being driven down to a penny like some were during the May 6 market freefall. And Congress is about to make a preliminary vote on financial reform.”

CNBC reports, “Still, Sterne Agee initiated coverage of Apple with a ‘buy’ rating and slapped a $300 price target on the stock, saying it doesn’t see a slowdown for the iPhone and iPad maker.”

Full article here.

35 Comments

  1. Greece, a country barely the size of what, Los Angeles and a GNP half the size of what, Los Angeles again, is managing to cause all these problems because they have government that has run out of other people’s money to spend. The people are rioting in the streets because they are afraid of losing their handouts and freebies from the government.

    Now they want to exit the EU? Seems like committing suicide to cure psoriasis to me.

  2. @ron

    My thoughts exactly!

    It’s bad enough that the people of Greece have ruined their country with an entitlement mentality where they could not in good conscience continue to keep ahead of the payments.

    So the US lends BIG $$$ to Greece and the IMF lends $$ to Greece of which the US is the biggest contributor, so more from us, whoopeeee! The EU proposes $, but not $$$, to help a member state and place absurd restrictions like privatizing health care, etc. Wait, didn’t Obama just pass a Greek Health Care bill into law? Anyway, it now appears that Greece is considering leaving the EU… Guess they thought they should be bailed out for free without any stipulations placed on the help…

    Will we get our money back?

    Did tax cheat Tim Geithner get a receipt?!

    Did HE read the Greece bailout plan?

    Doubt it!

    Doubt it!

    and Doubt it!

  3. did anyone read the piece in the new york times stating that Greece would have had a lot more money but the rich were avoiding to pay taxes and doctors were basicly reporting they were makeing saleries that would qualify them as making at or below the poverty level so they wouldnt have to pay taxes and very few ppl admitted to having inground pools on their property yet images from space show other wise and that ppl who had 3 cars said they were poor lol yet the governemnt never presses going after them to pay thier taxes they only go after the ones who correctly file lol i read it on the watered down version if the times for the iPad

  4. About 15 years ago George magazine published an article about the top 10 issues no candidate in the 96 election would talk about. One of the biggest problems no candidate will ever address…Tax Enforcement. Anyone wanna guess what percentage of taxes levied are not paid? So the governments’ solution is levy more taxes…People do not enforce the immigration laws on the books..the answer is write more immigration legislation. So, the government of Greece is par for the course.

    just my $0.02

  5. mac_kid, you make an excellent point… although you sure don’t make it easy for others to read the point you’re trying to make!

    Greece is in the midst of a wake-up call. To make it in or out of the EU, the government and the Greek people will all have to do life differently. The masses will be forced to abandon the entitlement and the rich will be forced to pay large sums for those in-ground pools and multiple cars… google earth will become the Greek government’s best friend when it comes to nailing these tax-evaders.

    Watch what happens to Greece… the USA is headed in the same direction… we are a country of narcissistic consumers bent on entitlement.

  6. Greece is in a dire situation, it’s National debt ($240 Billion) is over 70% of it’s Gross domestic product. The USA has a National debt of ($13 Trillion) which is 90% of gross domestic product, looks like capitalism is winning.

  7. BiteanAAPL:

    You make the point easy to understand, question is : In a country of narcissistic consumers bent on entitlement and free lunches, aren’t you pissing in the wind..?

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