London (CNN) – The Greek government’s call for a referendum on its aid package is effectively a high-risk game of chicken with its people - and the eurozone peers who have kept the country afloat, analysts say.
Last night’s surprise move by Greek Prime Minister George Papandreou to seek the people’s voice on the unpopular rescue package plunged European markets deep in the red on open Tuesday, as they scrambled to understand the sudden lurch away from last week’s acceptance of the triple-pronged euro crisis response plan.
The European rescue plan - despite a lack of detail - was the substantive response markets had been seeking for months. But Papandreou’s move has thrown the plans into disarray.
Eurozone crisis fears are again sweeping the world - but this time, with more urgency than ever.
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