With just over one and a half hours left until the end, the country, Europe, and global interests will be watching the exit polls with great interest…
Will Syriza win, and if so, how will the markets react? Can Greece truly go it alone?
This is the mistake I made in considering the EUR/CHF floor, but I doubt any election result will cause any notable gap move in an environment of illiquidity. The market reactions to any outcome will show the level of confidence in the elected party to make good on campaign promises. A Syriza victory may raise eyebrows, but I doubt the market will consider a restructuring of debt in any given form a certainty to hang prices on. If anything, a win for Syriza should raise uncertainty which could be mildly troublesome for equities. The elves in my dreams don’t seem to care about the election.
Could Greece leave the EU? I think is not going to happen so duddenly, they may try a last ditch effort to stay in the Union.
Greece could leave… But more then likely they will just use the threat of leaving as leverage to re-negotiate their debt. Brinkmanship may be played but the odds favor compromises being made and them maintaining the status quo.
Syriza did win and I think Greece needs to go it alone. The Eurozone will be better without Greece and Greece will be better without the Eurozone. That’s just my opinion. I doubt it will happen, a lot of talk and no action. Greece will likely get most of what they want and the expense of others.
I agree, TheLastBear, although…
about half of the bailout funds from the Troika were used for debt restructuring and nearly 20% for
bank recapitalization: what did the Greek taxpayers - the butchers, the bakers, and the candlestick
makers (if they still exist) - get out of it?
Not much…
Greece’s Bailout Programs Are Not Working | Zero Hedge
I am actually, like you, very happy for Greece, because yesterday evening was a victory for
democracy, which is, after all, a term and a political practice that was born in that same country
thousands of years ago, before ‘the West’ even existed!!
Good luck to them!