Monthly Archives: June 2012

It’s all Greek to me….. and the Markets

The Greek people went to the polls this past Sunday, and the winner was the pro-Euro New Democracy party—beating out such political foes as the radical, anti-bailout Syriza party, which campaigned on a platform of rejecting Europe’s austerity-led conditions for bailout assistance, and the pro-bailout, Socialist PASOK party. At first glance, this seemed like good news for Greece, and Europe overall, since an unprecedented exit by Greece from the Euro could have led to further turmoil in the European credit markets over fears that other countries (Ex. Spain and Italy) might follow suit. As a result, most markets gained overseas initially but later cooled once U.S. markets opened and investors had more time to digest the likely short term impact of the election results.Read more