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This is very Imus in the morning.
On the -- Good morning everyone let's take a look at the markets I think a lot of selling across the board this morning here in the US.
Dow futures are down about seventy points the -- -- down -- -- in the NASDAQ down by almost nineteen -- your concerns about Greece are growing.
As the country's party struggle to form a new government.
London's markets return to trading after yesterday's holiday need to -- markets there are also in the red across the board.
London's down -- Bonnie Harris is off by 64 and Frankfurt's down.
By that 74 let's take a closer look now at why with the European markets I just global insight director of sovereign risk -- -- -- up.
Over in -- on.
In the wake of the Greek and French elections could we see a new clash between new and old leadership over austerity measures throughout the eurozone.
-- suddenly the the political maps changing on the agenda now is not just austerity but growth.
I'm not -- at that point Gannett austerity -- so what what we need we need new measures to stimulate growth.
But the Germans -- have been staring media crisis management have said that austerity has to be the priority.
We can't borrowed to spend.
Anymore that's been the problem in the policy.
But real concern today is -- Remorse from this risk consultant here is.
At the political risk can these governments implement now we've got much more fractious situation and grace.
And what kind of challenges does that situation in Greece -- to the country's efforts to reduce its deficit and -- reduce its debt.
Well it's -- that we've got you beat them to two major parties have lost ground they basically being pro Europe and -- publicly in support of the played up but we think in an increasing number of fringe parties on the extreme right left.
And then -- to Europe and they want to get out basically and that there won't want any austerity.
I'm not threatens the whole project.
Now no one wants to -- into -- political situation so fragile.
Wet with the good will -- so wait.
Whether you're commercial where the -- official mandate it's it's it's a -- -- So you have made it -- -- serious problems fool you you at the Helm all of Europe crisis management home -- on local.
Fund -- you touched on this a little bit -- with this change in tide could we see Greece just out of the eurozone altogether.
Well the question does that what we -- will be wolf hybrids.
If we do managed -- if they do manage to cobbled together.
A coalition government.
They will try to negotiate.
They must be given some concessions but fundamentally.
They have -- get.
Themselves on their own fate there have to be financially viable they can't depend on -- taxpayers paying that pensions.
-- which is the situation at the moment so you know you could have a situation well.
-- the the bailout is withheld basically.
And in that situation.
The the economy has no credit lifeline either -- the markets all for me the official sector and it collapses long term.
A cash basis and unemployment such as contracted 30%.
So in the situation on your critical options that it could be a you're -- that.
Right on we'll see out all plays out thanks so much been an -- as down ran up from my -- global insight in London banks yeah.
Retaining earnings in now from Wendy's the restaurant chain is reporting a profit of one cent per share that missed the estimate for three cents a share.
Revenue was also -- coming in at 593.
Point two million dollars -- there.
Was for 608.
Million dollars we're -- getting or is it from office Max the supply retailer is reporting a profit of 23 cents a share.
That was -- -- yesterday it was for sixteen cents a sick share revenue came in directly in line with estimates at one point 87 billion dollars.
Yahoo! CEO is working to defuse the situation involving his official bio -- a false college degree listed on it.
Rob upgrades in our newsroom now -- what steps -- Scott Thompson has taken.
To clear the -- -- -- Robert well Diane good morning to you so far he has apologized to employees in a short note last night.
Saying that they've been working hard to -- the company for this has the opposite effect but he did not explain.
How indeed is this a mistake did end up on his resident it's been publicly.
On his CB for a bit at his previous job where -- it led PayPal the unit of eBay.
Now Yahoo! is investigating how it has hired at these false academic credentials to -- academic experience was file with the Securities and Exchange Commission just last month.
Does -- created special three person committee they've hired an outside law firm they're looking into this resonate.
It said he -- a computer science degree but it's all modern didn't even offer that degree until a few years after he graduated senator college did confirm Thompson holds an accounting degree of course this came -- -- from -- dissident shareholder.
Third point capitol to hedge -- is unhappy with management at Yahoo!.
Diane they've called for Thompson to be fired back to you Robert.
Let's take a look at commodities oil and gold are both down Imus in the morning continues right now on Fox Business giving you the power -- them.
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