“The referendum will revolve around nothing less than the question: does Greece want to stay in the euro, yes or no?” German Chancellor Angela Merkel said earlier ahead of the Group of 20 summit. French President Nicolas Sarkozy promised Greece would not receive a “single cent” of assistance if the plan was rejected.

Vanguard European ETF

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Max Chen contributed to this article.

Read the disclaimer; Tom Lydon is a board member of the funds for Rydex|SGI.