Greek Prime Minister George Papandreou will be in the hot seat later when he will likely face a grilling from French President Nicolas Sarkozy and German Chancellor Angela Merkel about his surprise move to put the rescue package to a popular vote.
The market moved up and down yesterday based on this referendum. In the morning, news came out that Sarkozy was pushing for a referendum, in the afternoon news came out that the referendum idea was dead, and the market rallied, then toward the close, the referendum was back on, and the market sold off.
Looking at today's futures rally, this "referendum" thing might have been a one-day wonder, not surprising as that is how this market has been behaving.
"Headline of the Day" mode...total crap, but that is the market we are in.
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