European Leaders Hold Video Conference To Avert A Market Meltdown Next Week -- The GuardianPlans have been made to keep the markets calm should Greece elect a govnment that will reject its austerity package.
The main European leaders, including David Cameron and the German chancellor Angela Merkel, held an hour long video conference on Friday to avert a market meltdown next week if the Greek elections on Sunday end with a majority for parties totally rejecting EU imposed austerity.
Some EU leaders are to delay their flights to the G20 two-day summit starting in Mexico on Monday to gauge the election results and likely market reaction. But many will be in mid-flight as the European markets open. European finance ministers are due to hold a conference call after the election results are announced on Sunday evening.
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My Comment: When you see Europe's major political leaders videoconferencing on a late Friday afternoon .... that is when you know that they are worried. Expect all European eyes on Greece this Sunday.