Yesterday, Papandreou went to France and met with European policy makers in a discussion over the sudden decision from the Prime Minister to hold a general referendum on the bailout deal, where after hours of meeting European leaders explained that the Greek referendum will be held early on December, and would be considered as in or out vote on Greece's future in the currency union.

European leaders also agreed to cut off the entire financial aid for Greece until the vote, which could be hold on December 4 or 5.

The EU also put the sixth tranche of the last year's bailout package on hold, raising pessimism and fears in the market that Greece could drop out of the euro-area as soon as December, and could be forced into a disorderly default.