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26 Jan 2015
Syriza’s win in election makes the outlook for Greece highly uncertain – Investec
FXStreet (Barcelona) - According to the Investec Research Desk, Syriza has never held power, and with it planning to renegotiate Greece’s bailout terms only makes the outlook for Greek very uncertain.
Key Quotes
“The main development over the weekend which gave the crestfallen euro another kick occurred when the anti-austerity Syriza party won the Greek General Election, as opinion polls had predicted. At this point it looks as though Syriza has not scored an overall majority and will be meeting with potential coalition partners (most likely the Independent Greeks or the centrist The River (To Potami)) with the intention of forming a government by Wednesday.”
“Syriza’s stated policies are to increase public spending, raise the minimum wage and negotiate a debt restructuring with the EU and the ECB.”
“Although Syriza is not anti-Euro party, the fact that it has never held power, is made up of a disparate group of left-wing factions and plans some form of bailout renegotiation, makes the outlook for Greece highly uncertain. Hence we saw the Euro fall as low as 1.1088 versus the dollar, with GBPEUR trading as high as 1.3504 after the early indications of the outcome emerged.”
Key Quotes
“The main development over the weekend which gave the crestfallen euro another kick occurred when the anti-austerity Syriza party won the Greek General Election, as opinion polls had predicted. At this point it looks as though Syriza has not scored an overall majority and will be meeting with potential coalition partners (most likely the Independent Greeks or the centrist The River (To Potami)) with the intention of forming a government by Wednesday.”
“Syriza’s stated policies are to increase public spending, raise the minimum wage and negotiate a debt restructuring with the EU and the ECB.”
“Although Syriza is not anti-Euro party, the fact that it has never held power, is made up of a disparate group of left-wing factions and plans some form of bailout renegotiation, makes the outlook for Greece highly uncertain. Hence we saw the Euro fall as low as 1.1088 versus the dollar, with GBPEUR trading as high as 1.3504 after the early indications of the outcome emerged.”