Merkel (Photo credit: stejan)
World markets down again: Stoxx 50 -1%, Germany -0.8%, France -0.5%, Italy -2.4%, Spain -1.6%, U.K. -0.5%. Dow -0.46% to 12638. S&P -0.54%, Crude -1.62% to $93.25. Gold -1.21% to $1542.15.
At the first France-Germany joint press conference, both the countries agree to re-negotiate the compact. Feels like 2011 all over again…
Wonder what would happen if we tried this in India: A scheme to get Greeks to pay property taxes by bundling them with electricity bills didn’t last long. People stopped paying their electricity bills. (FT)
Is it time for Indians to buy US stocks? If you consider P/E multiples alone, most Indian blue chips are more expensive than their larger US peers. (ET)