Greek referendum upsets Euro party

Just when you thought it was safe to go back into the Investment "water" the Greek Prime Minister, George Papandreou, has called a referendum to give the Greek people a say on the terms of the package proposed, as part of the  Eurozone debt crisis solution package.

Markets have crashed on the back of this, seeing a  "No" return as  back to square one and beyond but without the package Greece is effectively bankrupt, standing on the edge of a cliff.

The Greek people have made their feelings very well known with regards to the austerity packages that come with it and this has unnerved global equity market's, very aware of the general strikes and demonstrations in Greece and this uncertainty will keep fund managers out of the markets when they might have thought quality shares were looking cheap.

Risk off and capital preservation would be the current investment strategy.