Markets Deliver Sobering Response to Greece's Election

Men look at the IBEX-35 index at Madrid's stock exchange. Photograph by Javier Soriano/AFP/Getty Images

Greece got a little breathing room. The rest of Europe didn’t. Yields on Spanish and Italian bonds soared to euro-era highs and European stocks slumped on June 18, the morning after Greek voters gave pro-bailout political parties enough support to form a parliamentary majority.

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