June 16, 2012 at 7:08 am #56877
With Sunday’s crucial Greek elections what do you think will happen and what effect on the Eurozone?
There seem to be 3 choices: the right get in, the left get in, or stalemate again, but it’s very hard to guess.
If I was betting, I think the Right will get in and stay in the Euro but try and renegotiate their terms 🙄 Could be completely wrong though 😕
June 16, 2012 at 8:59 am #109718
Yes I think they will stay in the euro at least they will still get the handouts.
Seem ludicrous that a country that comprises only 3% of the eurozone economy shoud cause so much upheavel 🙄
June 16, 2012 at 2:16 pm #109727
Ii is not the 3% of the economy that is the issue. The issue is the loans from the French & Italian. Banks.
June 16, 2012 at 4:33 pm #109729
They will vote for which ever party that means they stay in the Euro.
If they vote knowing their choice will mean Euro exit then they are voting for instant self imposed austerity, by way of huge job losses in the public sector, and huge price rises in every product that is not Greek.
June 18, 2012 at 7:35 am #109738
Greeks have voted by a slim majority to remain in the Euro. No surprise there, turkeys never vote for Christmas. The problems remain and nothing has changed. The left will be a strong voice in opposition and New Democracy needs Pasok to form a government. They will doubtless have to go back on their election commitment to renegotiate the bail out terms to get Pasok on board.
What does this mean for Spain and the rest of the Eurozone? In a word nothing. Markets will rally a bit the Euro will enjoy a modest uptick but it will not last. The problems are too severe and the lack of decisive political action by EU leaders means the crisis will only continue to worsen.
Unless fiscal and political union takes place and the debt burden shared by all Eurozone nations the situation can not improve or turn.
As an anti-European of course I would like to see the whole thing collapse in a very large heap and nations return to their own currency and sovereignty control.
As a realist, sadly I know it aint going to happen. So as I see it there is no other alternative but fiscal, political union and a federal EZ state. With the remaining EU members doing their own thing.
June 18, 2012 at 7:49 am #109739
Hooray, for the umpteenth time the Eurozone and the World are saved and so the clapped out bandwagon rolls on:lol:
Patch it up? It’s all Greek to me 🙄
June 18, 2012 at 9:13 am #109740
Nothing changed then…Eurozone stocks down (except Germany) and Spanish bonds at 7%+…WHAT NEXT
June 18, 2012 at 9:52 am #109741
Financial markets like bookies inhabit the real world. Politicians and their advisers whom we put there live under the desk, only emerging for useless summits and meetings and then a photo op.
I despair I really do. 🙁
June 18, 2012 at 10:31 am #109744
Now the Greeks have to form a coalition 🙄
However, New Democracy need Pasok the 3rd Party in terms of votes, and they’ve said they won’t form a coalition without Syriza who have said they won’t join a coalition, so could be interesting again 🙄
Two headlines today:
Greece saves the Eurozone (oh yeah) 😆
Greece will still default at some stage 🙄
June 18, 2012 at 11:40 am #109747
Sr Rajoy, poor soul, has said this “I am totally convinced that this strengthens the euro. The euro project is irreversible and we must continue to make progress on it.”
Isn’t there a big summit of Euro leaders towards the end of June? assuming the Euro lasts that long..
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