Markets Are Getting pummelled

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Stocks are getting slammed around the world to start off the week.

England’s FTSE 100 is down 1.6%.

France’s CAC 40 is down 1.9%.

Germany’s DAX is down 1.6%.

Spain’s IBEX is down 4.2%.

Italy’s FTSE MIB is down 4.1%.

Greece is back in the headlines.

According to Germany’s Der Spiegel newspaper, the IMF may not give extend bailout funds to Greece, which could reportedly send the debt-laden country into bankruptcy by September.

In other news, German economy minister Philipp Roesler said that the thought of a Greek exit from the euro has “lost its horror.”  Roesler is also sceptical about Greece’s ability to meet requirements to get its bailout funds.

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