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Moody's: 'A Greek exit from the euro zone would be devastating to Greece's economy, but no one else's' (Photo: Guilhem Vellut)

Asian markets react mildly to Greek referendum

The value of the euro and of European shares dropped in Asian markets on Monday (29 June), but news of the Greek referendum didn't cause panic.

The single currency went down by almost 2 percent against the dollar, before a slight recovery, and by three percent against the Japanese yen, seen as a safe haven.

Shares in leading British, German, and French firms also fell by 2.9 percent to 3.8 percent. Asian shares fell by 0.4 percent to 2 percent, while the value of gold, also a sa...

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

Moody's: 'A Greek exit from the euro zone would be devastating to Greece's economy, but no one else's' (Photo: Guilhem Vellut)

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

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