In the recent market, Greece is a main topic. I do not know quite well what is happening in Europe to deal with this matter, I mean how serious it is.
There is a sort of limitation to collect information on Greece. I understand its deficit is getting bigger, and its amount is approximately 12% of GDP. The grade of Greek's bond was down, and this is the point of recent move in the market. Many market players predicts that downgraded bond will be sold by many investors. Based on this assumption, people start moving from Greek bonds to other safety assets.
That is what the market interprets.
Some people say why Greece is matter. The size of economy is relatively small, and other organisation or countries can save them. Maybe some investors just use this matter to sell Euro...
I am not sure the reality. However, it is the real that Greece makes the market up and down. One example of globalisation.