Most Asian markets fall after Greek results, but China rises
TOKYO (AP) ? Asian shares mostly fell Monday after Greece's voters vehemently rejected conditions set by its international creditors, deepening doubts over their future in the 19-nation eurozone. But China's benchmark rebounded from heavy losses last week.
Eurozone in tailspin after Greece votes 'No' to bailout
European leaders were scrambling for a response Monday after a resounding "No" from Greek voters in a momentous referendum on austerity which could send the country crashing out of the eurozone. German Chancellor Angela Merkel was to meet with French leader Francois Hollande in Paris after Greece overwhelmingly rejected international creditors' tough bailout terms Sunday. The pair spoke by telephone late Sunday, declaring the decision must "be respected" and calling for an emergency eurozone summit which European Union president Donald Tusk said would be held on Tuesday.
Asia markets sink after Greece votes 'No' to austerity
Asian stocks mostly fell Monday after Greek voters rejected more austerity demands from creditors, fuelling fears the country will crash out of the eurozone, but the euro recovered from initial losses as dealers wait for European leaders' next move.
Shanghai stocks up 2.15% by midday, erasing some gains
The benchmark Shanghai Composite Index rose 79.45 points to 3,766.37, though it erased most of an initial 7.82 percent rally at the open. On Sunday, the government said the central bank would provide liquidity through the state-backed China Securities Finance Co., which manages margin trading, to "protect the stability of the securities market", according to market watchdog the China Securities Regulatory Commission (CSRC). The CSRC also said on Sunday that there would be no initial public offerings (IPOs) "in the near future", according to a separate statement.
Greek referendum: LIVE REPORT
Athens (AFP) - 04:09 GMT - Closing Live Report - AFP IS NOW CLOSING THE LIVE REPORT on the Greek referendum where voters defied warnings of a possible "Grexit" by saying a resounding 'No' to creditors' harsh bailout terms.
Greeks defy Europe with overwhelming referendum 'No'In Athens, thousands of jubilant Greeks waving flags and bursting fire crackers poured into the city's central square as official figures showed 61 percent of Greeks had rejected a deal that would have imposed more austerity measures on an already ravaged economy. "You made a very brave choice," Prime Minister Alexis Tsipras said in a televised address. Without more emergency funding from the European Central Bank, Greece's banks could run out of cash within days after a week of rising desperation as banks shut and cash machines ran dry.
German calls for Grexit mount as EU stunned by 'No' voteBy Paul Taylor and Andreas Rinke BRUSSELS/BERLIN (Reuters) - France and Germany called for an emergency summit of euro zone leaders to discuss Greece's stunning referendum vote on Sunday to reject bailout terms, as calls mounted in Berlin to cut Athens loose from Europe's common currency. German Chancellor Angela Merkel's deputy said Athens had wrecked any hope of compromise with its euro zone partners by overwhelmingly rejecting further austerity. Responding to their call, European Council President Donald Tusk announced that euro zone leaders would meet in Brussels on Tuesday evening (1600 GMT).
Argentina's Fernandez celebrates Greece's 'No' to creditorsBy Hugh Bronstein BUENOS AIRES (Reuters) - World markets may tremble at Sunday's decision by Greek voters to reject conditions of a rescue deal from creditors, but the leader of Argentina, which suffered a similar crisis more than a decade ago, boldly welcomed the referendum result. President Cristina Fernandez, known for combatively defending her unorthodox policies, tweeted that Greece's vote marked "a resounding victory for democracy and dignity." There are stark similarities between Argentina's 2002 financial meltdown and the turmoil in Greece: rigid monetary regimes, creditors battling domestic politics to fix the problem and banking systems at breaking point.
Greek PM says Athens ready to return to negotiating tableGreek Prime Minister Alexis Tsipras hailed a 'No' vote in Sunday's referendum on a bailout offer and said his government was ready to return immediately to negotiations with creditors in a bid to get shuttered banks open again. Dismissing talk that the referendum was effectively a vote on whether Greece stays in the euro, Tsipras said the mandate that Greeks had given him was to reach a viable solution rather than clash with Europe. "With the difficult circumstances prevailing today you made a very brave choice," Tsipras said in a televised address to Greeks.
'Europe is dying', EU opponents say, as Greek 'No' brings delightIf Greece's 'No' vote shocked euro zone leaders, it brought delight to opponents of the European Union who said it showed the entire European project, including the euro, was dying. Rejecting European creditors' demands, Greeks voted against the terms of a bailout on Sunday, delivering one of the biggest blows to Europe's drive to forge an enduring monetary union since the euro was launched in 1999. "The EU project is now dying," said Nigel Farage, leader of the UK Independence Party, an anti-EU party which won 12.6 percent of the vote -- but just one seat -- in Britain's May 7 general election.