The previous week has been dominated by the risk aversion which started to show on the market due to the situation in Europe. After the resignation of the Greek Prime Minister, the crisis started to really spread towards Italy as well, not only at the financial level, but also at the political one. After the vote which indicated the fact that the Italian Prime Minister, Silvio Berlusconi, is not wanted by the Italian citizens and after the sell of the Italian 10-year bonds, the market started to be dominated by an increasing risk aversion which seemed to calm down just a little at the end of the week. Traders are very concerned by the financial situation in Greece, Italy, Spain and Portugal and by the spreading political crisis, especially as there are rumors according to which Angela Merkel seemed to discuss with the other European leaders the possibility of quitting the unique currency for the Eurozone.
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