Budget 2026 calculator: find out if you are better or worse off
-
Use our interactive tool to see how you have been affected by John Healey’s
tax and spending announcements
-
Healey keeps income tax threshold...
49 minutes ago
Posts
Seed Newsvine
.jpg)
Markets fear that a chaotic default by either Greece or Italy would lead to huge losses for European banks. That, in turn, could cause a global lending freeze that might escalate into another credit crisis similar to the one in 2008 after Lehman Brothers fell.
ReplyDeleteSome analysts fear that the euro itself could fall, which would lead to inflation and a breakdown in free trade agreements in the European Union.
European markets also fell sharply. Italy's benchmark index plunged 3.8 percent. Germany's DAX and France's CAC-40 each lost 2.2 percent.
The prices of assets seen as safe havens rose sharply. The dollar jumped 2 percent vs. the euro.