John Husselbee, CIO at North Investment Partners, discusses the impact of the recent election results on the future of the stricken peripheral nation.
So Greece is saved? Well, actually I’m not so sure of that. The result of the second Greek election has, as yet, changed little. The New Democracy party, that supports the terms of the eurozone bailout, won through, but failed to poll sufficient votes to govern. Nonetheless, it has the right to form the next government, in spite of anti-austerity parties having gained 60% of the vote – so much for proportional representation! What lies ahead is the tortuous task of forming a credible and stable government. Obviously, this will be a coalition and necessitates the New Democracy Party ma...
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