MarketWatch
June 20, 2011
Rioters demanding an end to Greek budget austerity programs pushed global financial markets to the brink of disaster last week — but only the brink.
European leaders found a way on Friday to make a new round of empty promises sound like money, and bought themselves at least a weekend to persuade citizens outraged over draconian debt repayment schedules that it's in their best interests to just pay up and shut up.
Yet this was not the last step on what you might call, with apologies to Keats, the “road to a Grecian burn.” Not even close. And citizens in places as distant as San Francisco and Singapore are about to rediscover why the smell of tear gas wafting over Syntagma Square is smarting eyes on Wall Street.
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