coalition government since the presidential office announced the incumbent prime minister, george papandreau's intention to resign on monday. the new prime minister and the ministers of the coalition government will be sworn in on friday. >>> the tokyo stock exchange has put olympus on a supervisory watch list. that is what it costs investors about trading company's shares. it is reaction to an announcement by the spokes the object equipment maker embroiled in a scandal involving corporate buy-out concealing massive losses. and the company was placed on the watch list after announcing it will miss the legal deadline next monday to release the latest earnings report. olympus employees have been compiling data on the first half of this fiscal year. the company's spokes people say they have to wait for the outcome of an ongoing third-party investigation before they release the report. olympus' cover up of massive loss s is being scrutinized. the tokyo stock exchange respse will play out in two stages. as we mentioned, olympus is now on a watch list. if the company fails to release its financial r

reporter: greece has a similar, if smaller problem with its debt-damaged outgoing prime minister george papandreau. he even went on tv to announce he was stepping down, but there's no new government to replace him. and no confidence in the markets that new leadership in greece, or more importantly, italy, will be any more successful than the old in solving the debt crisis that is consuming europe. and threatening to spread far wider. the euro crisis is claiming its first political victims, although, with silvio berlusconi's track record for survival, he's been prematurely pronounced politically dead many times. there are those who won't believe he will actually go, scott, until he's gone. >> pelley: thanks, mark. the turmoil in europe sent the dow sharply lower. at the close it was down nearly 400 points. that is more than 3%. elaine quijano is at the new york stock exchange. >> reporter: for these traders and you it's been a roller coaster ride today. >> yeah, it has been, particularly in the morning was very. >> reporter: piero ghezzi of barkley says the bad news from italy is causing deep conce

the announcement came ahead of a vote in parliament on the cabinet of george papandreau later on fridayvenezos said he told the european officials that the aim of the confidence vote is to form a government of unity. he said the government wants to obtain the largest consensus possible. >>> attention is also focused on italy, another eu member under pressure to stabilize its finances. the presidents of the european commission and the european union say italy is asking the international monetary fund to help monitor its economic and fiscal reforms. the european commission president jose barroso said the economic commission will look at the situation. the country is under fierce pressure from financial markets to reform its finances. >>> that's it for this edition of "newsline," thanks for watching.

the greek prime minister george papandreau facing, despite the courtly appearances, a very angry german chancellor and a livid french president. what, they wanted to know, could papandreau possibly have been thinking? the greeks' anger over their economic polite has been spilling into the street for months and now papandreau seems to be calling the rioters' bluff at great risk by calling a surprise referendum on the bailout deal he's been offered to try to save his country from bankruptcy. a referendum that he could not only lose but that could scuttle the deal and take the european currency and perhaps the world economy down with it. chancellor merkel had a brisk first reaction. the world needed clarity from greece, not uncertainty. french president sarkozy warned the deal offered to greece painstakingly worked out by 17 european countries was the only option. the deal would kick in $177 billion of european money to pay off some of greece's massive debt. banks would write down half of what they are owed by greece, take a haircut, is the phrase. in return, the greeks would dramatically

and shares are plunging following the announcement by greek prime minister george papandreau that his government will hold a referendum on a new bailout package for his country. market sources say the announcement has reignited concerns that the europe's debt crisis may not ease at any time soon. in london, the ftse is now down 3.56%. and france's, germ's dax is shedding 5.87% and france's cac has lost 5.45%. in tokyo stocks extended their losses on tuesday. investors offloaded a wide range of shares following an overnight selloff in new york. the nikkei finished at 8,835, down 1.7%, or 152 points from monday. market sources say the bankruptcy of a major u.s. financial institution rekindled concerns about europe's debt crisis and prompted investors to dump risky assets. there's also speculation that the impact of japan's massive yen-selling intervention on monday will be short-lived. and that this will send export-related issues down. in other asian markets, hong kong's hang seng was 2.49% lower. and shanghai's key index for major blue chips was 0.15% higher. and the shenzhen, the sse

the greem prime minister george papandreau surprised them by announcing a referendum on the debt deal. this put the scenario in question. countries outside europe urged france and germany to stand firm. president sarkozy, the host of the summit personally put pressure on greece. >> translator: if these rules are not respected, neither europe nor the imf will be able to transfer the funds. c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c c yoshihiko noda urged european leaders to demonstrate political leadership on the debt issue. in the end, the g-20 summit turned out to be anything but usual. >>> next we go to pachari raksawong in bangkok to find out what's going on in the region. >>> thailand is struggling to protect the essential functions of its capital as the floodwaters spread in bangkok. the main crisis center is under threat for a second time. and the city subway system also now looks to be at risk. the devastating floods are creeping ever closer to central bangkok. on friday, wa

. >>> meanwhile, european leaders vented outrage at greek prime minister, george papandreau at a meetingn france, after his call for a greek referendum threw europe's debt plan into chaos. german and french leaders, as well as papandreau himself now describe the vote as greece's decision on whether to remain part of europe. a revolt in papandreau's own government may kill the referendum after a confidence vote tomorrow. >>> back at home, an october jump in private hiring also lifted stocks. banks led by bank of america recovered from recent losses. >>> in earnings, mastercard hit its all-time high on soaring earnings, news corp.'s net income fell on costs related to its phone-hacking scandal. kraft rose late on a surge in profit. the opening price will be set today for groupon's much-anticipated ipo, 30 million shares begin trading tomorrow mplgt. >>> a regulator says now-bankrupt mf global moved millions in missing client funds last week, trying to avoid detection. despite assurances from the firm's lawyer that all client money is the accounted for, reports say roughly $600 million is s

what's happening they've summoned the greek prime minister, george papandreau here to nice, french presidentela merkel. they'll gb to pile on to him. president obama is arriving this evening. treasury secretary is going to be here. they're going to pile on to say you are imperilling all of europe by saying you're going to put this vote to a referendum. and if you do that, you're imperilling the recovery in the rest of the world. that's what's going on right now. there's supposed to be a vote in the greek parliament on friday about this. it's unclear whether this suggestion will actually pass parliament. but basically between now and friday, we're back into this uncertainty. if there is is a referendum, keira, it could be in december or even january and that's going to create more uncertainty for markets. we saw very, very heavy drops on the market yesterday. if you want to know what the connection is between you and what's going on in greece? that's exactly it. that uncertainty turned markets down, it ended up costing people monday in in their 401(k)s and their retirement accounts. >> and th

george papandreau. he is promising to seek interim government that would help secure the proposed bailout. the european union says that package is the key to saving greece's economy as well as preventing a total financial meltdown throughout europe and all over the world. coming up, we will hear from our economic panel about this issue. clayton's second favorite segment. one of the women accusing herman cain of sexual harassment is speaking out through her attorney. joel bennett says there was inappropriate behavior by cain more than a decade ago when he worked with his client at the national restaurant association. >> the fact that there are multiple complaints tells me it's more likely than not that there was some sexual harassment activity by this man at that time. >> it went on to say that his client did not wish to be named saying she wants to live a normal life. cain denies the harassment allegation. a tragic story out of texas this morning. one person dead and a dozen injured after a bus from abi