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Writing for the Guardian, Nick Fletcher said concerns that the Mediterranean country could default on payments were the primary cause for it slumping 35.32 points this morning.
Further debate over how this will affect other struggling eurozone nations, such as Portugal and Spain, has exacerbated the situation, he added.
"It is no surprise that the cost of insuring Greek debt has hit another new high, rising 131 basis points to 2,025," he commented.
According to the journalist, this means €10 million (£8.8 million) worth of exposure to Greek bonds costs over €2 million to insure.
Plans to introduce an austerity programme in order to resolve the country's financial problems have resulted in nationwide riots.
Yesterday, the Scotsman reported the FTSE 100 closed 100 points down on the previous day.
Posted by Chris Weaver
