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Macroeconomics  |  June 16, 2012 15:46:12

Greece: Before the election a good mood?

Although the countdown before the Greek elections, which should decide whether the eurozone will continue as at present constituted, began markets with risk assets as if they did nothing of it.

Optimism (equity and commodity) markets is based on two questionable assumptions. First, according to unofficial election published estimates, it apparently seems that the majority in Parliament to obtain a "pro-European parties." Second, markets are governed by the rule a bit "more difficult, the more" - allow for the fact that the world's key central banks are prepared in advance of a massive coordinated action to support the economy.

Central banks are the Greek elections of attention: We will provide liquidity promise
Central banks are the Greek elections of attention: We will provide liquidity promise

Central banks in developed countries are in the event that the results of Sunday's parliamentary elections, the Greek on Monday caused panic in the markets, ready to stabilize the situation with "bottomless stores' money.Their willingness to contribute was also confirmed by the British central bank. Reuters ...

Both certainly can happen after Sunday, however strange behavior of financial markets from risky choices Greek has a third dimension.

Spanish trouble uploader Greece

Rescue of Spanish banks in fact signed on the behavior of Greek political parties, as expected. Key economic policy-makers in the EU has rightly decided that a rescue package for the Spanish bank is bound to further austerity measures.This approach, however benevolentnějším euro area recorded a smash not only the radical left-wing opposition, but actually the whole political scene in Greece.

Small Greek multiplication table: a European Armageddon Week
Small Greek multiplication table: a European Armageddon Week

The upcoming Greek elections may trigger a crisis postlehmanovských parameters. There are many experts agree. This underlines the only certainty in a sea of ??uncertainty, which is dominated on both sides of the barricades, then in Greece and abroad. Investment web confessed in London ...

Election rhetoric originally used only the radical left, which is based on the premise that the need for austerity measures ordained Troika (IMF, ECB and EC) and the Germans refuse to bluff when they claim that they can get outside the euro Greece, now assumed even moderate parties in Athens.

Originally schizophrenic situation for Greek voters, who on the one hand, like to stay in the euro area, but on the other hand, wants to send a Troika to hell, so in terms of decision greatly simplified.Whether anyone will win on Sunday, so-called memorandum (IMF austerity program ordained) is dead. Greeks will be necessary to relieve the back (with their payment schedule).

However, it is questionable whether such an election simply sees the situation in Greece as well as official creditors led by the Germans. See you on Sunday or Monday. (Source: CSOB)

6 scenarios of the euro after the Greek elections
6 scenarios of the euro after the Greek elections

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