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There are fears in Europe that the debt crisis can spread all over the world. London and Paris markets fell by 0.7%, while Germany’s market index went down by 1%.

Japan’s Nikkei index went down by 2.5%. Indexes in Australia, Singapore and Taiwan also saw the fall.

In America Wall Street’s Dow Jones declined by 3.6%, it is the largest drop since 2009.

According to the chief economist of KBC Securities, Europe is not unanimous about the way how overcome this crisis.

Finance ministers of the European Union are meeting in Brussels to discuss the ways of handling the crisis in Greece.

In addition to this, Germany’s Bundestag is supposed to vote on a bailout package that makes 750 bn euros in order to stabilize financial markets.