Greek Deadlock over Euro Still Rattling Markets

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Political deadlock in Greece is raising new concerns about a painful exit from the eurozone.

Party leaders in Greece have struggled for nine days to form a coalition government after no party won an outright majority in the May 6 election. 

"The exit of Greece from the single currency has become probable. Not so long ago it was impossible," analysts at DBS Bank said.

Politicians disagree about making major cuts to benefits to keep the country from collapsing. But German Chancellor Angela Merkel says Greece may be forced to drop the euro currency if it refuses to make spending cuts.

Click play to watch Dale Hurd's updated report.
    
Meanwhile, the London Telegraph reports a former Greek minister says his country could descend into "civil war" if there's a chaotic euro exit.

A Greece departure from the euro could rock economies from the European Union, all the way to the United States.

On Monday, the situation caused the Dow Jones industrial average to fall to its lowest level since January.  It's the eighth time in nine sessions the Dow lost ground.

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