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European stocks down
Decline began trading on the stock markets of Europe. Investors took a wait and see policy. Today in the U.S. trading on NYSE, NASDAQ OMX Group and BATS suspended because of impending Northeast U.S. hurricane "Sandy."
On Sunday, Greek President Karolos Papoulias said that Europe should not put forward new requirements for the Greek economy. "One can not expect more from this people, and so he gave all" - said Papoulias live local television after the military parade in Thessaloniki on the occasion of the national holiday in Greece.
Next week, the Greek parliament will consider a package of austerity measures up to fourteen billion, in exchange for which the country plans to get the next tranche of around 31.5 billion euros from the EU and IMF.
The government is going back to reduce pensions and salaries of civil servants, as well as cut back on the rights of workers and lay off thousands of employees of the public sector.
FTSE 100 5,773.01 -33.70 -0.58%
CAC 40 3,405.28 -29.81 -0.87%
DAX 7,187.42 -44.43 -0.61%
BT Group Plc lost 1% after rumors that the telecommunications company may cut sales forecasts. UBS shares rose 5% percent after the largest bank in Switzerland, announced the decision to cut as much as 10.000 jobs.
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