The Markets Fear Of The Left?

[youngmafbog]

Well looks like the Greek markets (down 10%) are resounding to the fear of the radical leftist Syriza party getting in.

According to Syriza leader Alexis Tsipras the elections would herald an end to austerity. Quite how this will happen is anyone's guess since his party seem to want to renege on the deal with the IMF and the EU. This can only end in tears and most likely a default meaning Greece won't be able to raise a bean so making his statement truly odd.

Will the Germans tolerate this decent or will it be bye bye to the Greeks?

And with Lithuania coming on board Thursday, just how strong with the Euro dollar(What the yanks think it is) be?


http://news.sky.com/story/1399197/greece-back-in-crisis-as-snap-election-forced

[ToraToraTora]

don't look for any sense with the bubbles YMB, they live under socialist beliefs that wealth is created by magic and given to them. That's why they have a huge public sector with momumentally silly rules. I certainly think that if the lefties do get in they'll test Angie's patience to the limit and could find themselves cut off.

[Old_Geezer]

If one needs to increase wealth creation one needs citizens in jobs creating things of value rather than simply consuming them. That's a long winded process under austerity measures.

It's a sad world when speculators chasing quick profit are allowed by the system to effectively dictate how a people solve their economic issue. However the country could have avoided giving them that power by ensuring they held sufficient funds to progress with their chosen solution without needing outside funds.

[Zacs-Master]

That's a big IF, OG.

[youngmafbog]

//It's a sad world when speculators chasing quick profit //

How do you know it is quick win speculators?

If your pension fund was investing in the country (and many do in a major way) wouldn't you expect them to protect your hard earned funds?

The problem is too many Greeks (Bubbles) want the easy life and someone else to pay for it.

[Gromit]

Greece is now run by a cabal of dodgy International bankers.

The IMF, European Central Bank and the EU are dictating Greece's economic policy and the population do not like it. Which is why anyone promising to ease the crippling austerity will do well in the election.

// Will the Germans tolerate this decent or will it be bye bye to the Greeks? //

The Greeks can elect whoever they want and the Germans will have to lump it. The Greeks EU membership is not in doubt. The Euro will survive no matter what.

[woofgang]

membership may not be in doubt but payment to prop up the greek economy might be.

[Gromit]

The EU bailout agreement finishes on Wednesday. They have a balanced budget for next year. If they need further bailout they will go to the IMF not the EU.

[ToraToraTora]

"The Greeks can elect whoever they want and the Germans will have to lump it. The Greeks EU membership is not in doubt. The Euro will survive no matter what. " - oh dear another "unsinkable ship" eh gromit?

[DTCwordfan]

//Greece is now run by a cabal of dodgy International bankers. // That's better than a bunch of undisciplined and corrupt Greek politicians and bankers - and I am more than aware of how deep it runs in a project that I was involved in with Greece for their gas business - what a holy mess it was. First thing we did was cancel all sub-contractor and supplier contracts, all 350 of them.....