Just when we thought Europe was moving forward in the right direction, Greek Prime Minister George Papandreou has announced a “referendum” on whether or not his people would accept the European bailout plan and gambled on a confidence vote on his leadership.

Greece is on the verge of receiving their 8 billion Euro package in aid.

At least by holding a referendum, George has democratised the decision and made it the people’s choice.

This latest twist in the European debt tragedy has brought uncertainty back into the financial markets.

Unless the decision to hold a confidence vote and a referendum is rescinded between now and this Friday, it’ll be uncertainty for the financial markets until at least the new year.