Market speculations unsettle Greece

New speculations on the financial state of Greece put the euro under considerable pressure on Tuesday. This demonstrates the irrationality of the market, writes the left-liberal daily To Vima: "Whatever we do, no matter what initiatives the Greek government adopts or how much the Greek people sacrifice, it all goes unnoticed. Yesterday's market reaction was clearly disproportionate and baseless, the result of unsubstantiated and unfounded rumours. It would have only been logical to put these speculations to one side. And how can a country that battled ... to put through a rescue plan only two or three weeks ago now demand it be overhauled? It is remarkable that the major international markets are ready to accept unfounded rumours instead of recognising Greece's efforts. ... Political motivation has always played a role, even when this is contested by the representatives of the free and allegedly self-regulating market. ... Greece remains recalcitrant and refuses to dance to the tune of the free market. It is not Ireland. Greece doubts formulas and ideas ... and can't hide its disgust at groups of speculators."

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