The Greek referendum proved to be a nasty surprise to investors on Tuesday as markets tanked in response to it.
He added that Europeans who donate money to PKK share in the responsibility for the killings of innocent civilians.
As international pressure mounts on Greek Prime Minister George Papandreou to drop his bid to put the deal before the Greek people for a referendum vote, and instead immediately accept its terms as drafted, Greek-American New Yorkers are once again shocked at the intransigence of their home country's leadership.
Even more galling for Papandreou, six other members of his own Pasok party have called for his resignation.
Stocks pared gains and the Nasdaq Composite hit a session low in afternoon trading on Wednesday after a source said the European Union and International Monetary Fund will not release an 8 billion euro payment to Greece until after its planned referendum.
This means that an eight billion euro ($11 billion) payment will be in limbo until after the referendum vote – which isn't even scheduled to be held until December.
Airline ticket prices may rise by $33 round trip across the Atlantic if a new European Union carbon law sticks.
India could consider supporting extra financing for the euro zone if European policymakers make a credible assessment of its solvency problems, Finance Minister Pranab Mukherjee told reporters.
Underscoring the magnitude of the crisis, a virtual who’s-who of European political and financial elite will also join the emergency summit,
Neither Greece Defense Minister Panos Beglitis nor any other government official provided any explanation behind the sudden and unexpected moves.
Gold firmed on Wednesday, helped by safe-haven demand as the Eurozone troubles deepened and business surveys showed the severe impact the crisis had on manufacturing in the region.
European stocks turned negative after early gains Wednesday, adding to a sharp two-session drop as investors dumped banking shares on fresh concerns about the euro zone debt crisis.
Italy's top financial officials will meet later Wednesday as escalating market turmoil threatens to push the euro zone's third largest economy into a debt crisis that could threaten the whole currency bloc.
World stocks and the euro edged up on Wednesday after a rollercoaster week, as investors hoped for comfort on the weak U.S. economy and troubled euro zone from meetings of the U.S. Federal Reserve and Group of Twenty leaders.
Asian shares fell and the euro stuck near 3-week lows against the dollar on Wednesday, as investors shed riskier assets after Greece's shock call for a referendum stoked fears about the viability of a European debt deal struck just last week.
Difficult decisions must be taken swiftly to address economic challenges in Europe and elsewhere, Prime Minister Manmohan Singh said in a statement before leaving for the two-day Group of 20 leaders' summit in France starting on Thursday.
U.S. banks have not done enough to ensure they are well capitalized, and getting back to a system where retail and investment banking are separated would be attractive in terms of reform, Bill Gross, manager of the world's largest bond fund, said on Tuesday.
Greek Prime Minister George Papandreou fought off a barrage of criticism to win the backing of his Cabinet Wednesday to push ahead with a speedy referendum on the European debt bailout deal.
Gold traded lower on Tuesday, under pressure from a stronger dollar, but a surprisingly weak read of U.S. factory activity enabled the euro to claw back some gains, thereby helping the bullion price pare earlier losses.
U.S. Senator Tom Harkin, D-Iowa, and U.S. Rep. Peter DeFazio, D-Ore., will introduce bills on Wednesday to impose a .03 percent transaction tax on trades of stocks and bonds
Prime Minister George Papandreou's call for a referendum on the latest Greek bailout plan has blown a potentially fatal hole in the Eurozone's strategy to overcome its sovereign debt crisis.
The principal opposition party New Democrats, have called for early elections, warning that the referendum that Papandreou has proposed could endanger Greece’s membership in the European Union (EU).
