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Investors brace for dramatic new stage in Europe
Investors have begun preparing for a dramatic new stage in the European debt crisis ahead of a weekend Greek vote that could help determine the future of the euro zone.
In a sign of the heightened tension, global markets were boosted late in the week on reports that central bankers stand ready to act in the case of a credit crunch following the Greek elections.
Edward Hugh, an independent economist and well-known blogger based in Barcelona, said investors are beginning to make calls as to whether the euro will disintegrate or ultimately be saved. �I think investors are trying to cover themselves both ways,� said Hugh. �If you buy German [credit-default swaps], it�s win-win.�
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