Investors remain nervous about Greek debt and the effect it will have on the global economy. A weak open is expected for U.S. stocks. To combat the growing debt crisis, Greece has slashed spending, reduced wages and raised taxes, but they are still falling short of deficit targets for this year and next. Anxiety over the market is not helped by the fact that many economists believe Greece will default on its debt.
In spite of this belief, there is still hope for the euro. Of the 22 economists surveyed, 17 predicted the euro would hold together without losing any of its members, even Greece. Two-thirds of those surveyed said a Greek default would have severe or significant impact on the U.S.
