PLEASE NOTE: THIS EDIT CONTAINS CONVERTED 4:3 MATERIAL<br/> A global sell-off in equities extends to a second day, pushing the S&P 500 and the Nasdaq back into negative territory for the year, as markets take their cue from European politics.<br/> Investors now have concrete reason to worry.<br/> Greek Prime Minister George Papandreou called a referendum, calling on everyday Greek citizens to vote on an international bailout deal for the indebted nation.<br/> Greek ruling party deputy Melina Apostolaki, seen here at her swearing-in in 2010, quit in protest.<br/> The political uncertainty throws the process of cleaning up Europe's debt crisis into disarray.<br/> And according to Joerg Rocholl, President of European School of Management and Technology in Germany, Papandreou's decision once again puts the "union" in European Union at risk.<br/> SOUNDBITE: JOERG ROCHOLL, PRESIDENT, EUROPEAN SCHOOL OF MANAGEMENT AND TECHNOLOGY (GERMAN WITH ENGLISH TRANSLATION) SAYING:<br/> "The announcement is very surprising and also courageous because there is a large risk that the whole thing will go wrong. If it goes well he of course has the support of the Greek people. If not, it could lead to a situation where Greece can no longer remain a member of the euro zone".<br/> And that uncertainty has reopened raw nerves on trading floors across Europe.<br/> In Germany, stocks were down almost 5 percent.<br/> Trader, Oliver Roth:<br/> SOUNDBITE: OLIVER ROTH, TRADER, CLOSE BROTHERS SEYDLER BANK (ENGLISH) SAYING:<br/> "The worst case scenario is right now that if Greece is really rejecting the rescue package, the European rescue package that it might blow up the whole euro system."<br/> And it wasn't much better in France, where traders looked to a surprised President Nicolas Sarkozy for further word.<br/> Sarkozy and Germany's Angela Merkel, the two leaders who took the lead in Greek debt negotiations, will meet with Greek officials on Wednesday, according to his office - as the two once again try to convince jittery global investors that Europe is still a safe place to invest.<br/> Conway Gittens, Reuters
