Glenn Carrell, right, of Barclays Capital directs trading from his post on the floor of the New York Stock Exchange on Monday.By PAN PYLAS
AP Business Writer
LONDON – Fear that Greece will default on its debt, perhaps triggering a financial chain reaction that will cause another global recession, hurt European stocks Monday and sent American stocks lower for a time.
The market tension came after a German politician suggested Greek finances are so bad the nation might have to leave the coalition of 17 countries that use the euro as their common currency.
In addition, the German economy minister published an op-ed arguing that an “orderly bankruptcy” of Greece must be an option. Greece has been relying on international bailouts to keep it solvent.