Financial Times: Fears of Fresh Greek Crisis | GreekReporter.com

A new Greek crisis is on the horizon after the snap general elections that could bring leftist SYRIZA to power which may lead the country to a direct confrontation with its international creditors, according to the Financial Times.

The elections in Greece next month and the likely victory of far left SYRIZA will scare politicians and investors. Once again, there would be the gloomy debate of related potential disasters: default, mass exit of depositors, social unrest and a possible exit of Greece from the eurozone.

The dormant question about Greece’s place in the eurozone has returned, just two years after the country’s debt crisis nearly triggered a break-up of the currency union and shook the European project to its core, says the Financial Times article.

It comes with several eurozone countries struggling with weak growth, the rise of populist anti-EU parties and widespread disenchantment with the politics of austerity promoted by Germany.

European policy has forced many voters to rise against economic austerity and to cast their vote in antisystemic parties who reject the European consensus on how to preserve monetary union.

Investors are worried at the prospect of a victory by SYRIZA, which has pledged to write off much of Greece’s debt and renegotiate the terms of its bailout. The Athens stock exchange fell almost 11 percent to a two-year low before regaining some ground. Greek 10-year bond yields jumped to a year high of 9.8 percent while the government’s short-term borrowing costs hit a record high of 12 percent.

Germany is cautious with SYRIZA as a big haircut of the Greek debt may be economically feasible, but will certainly open the door for other similar requests from Italy, Portugal, Ireland, Spain and even France.

Source: greece.greekreporter.com

See on Scoop.itPolitically Incorrect

About brexians

Demetrios Georgalas (A Surviving Globalization Consultant) was born in 1961 in Bern and grew up in Athens. In1985, graduated from Surrey University with a Tourism Management BSc (Hons). In 1998, graduated from LMTB under Freie Universitat Berlin, with a Diploma Lasers in Medicine. His professional career was started in the private sector and at the same time he created his first consulting company D+G Consultants Inc. Worked for major multinationals in Greece and abroad (FMCGs / Pharmaceuticals / Tourism). Demetrios Georgalas, having established also Travelling 2 Greece a destination management company, while with the D+G Consultants working in the areas of BTL and special marketing projects. He is activated except from Greece in the Balkans and in Turkey, consulting his clientele with new innovative proposals. Apart from his enterprising activities, he dabbles at blogging, travelling and cooking while he is married and has two children. In conclusion Demetrios Georgalas is an Athenian, Greek, Agnostic, Traveller, & Liberal he likes sci-fi, photography, blogging, travelling and cooking and if you like fascism or any kind of dogma, keep out! Δημήτρης Κ. Γεωργαλάς Γεννήθηκε στην Αθήνα το 1961, σπούδασε Τουριστική Διαχείριση στο Ηνωμένο Βασίλειο και κατέχει μεταπτυχιακό τίτλο στην Βιοτεχνολογία. Έχει εργαστεί σε μεγάλα τουριστικά γραφεία του εσωτερικού, και σε πολυεθνικές σε Ελλάδα και Εξωτερικό, στο χώρο των φαρμάκων, των ιατρικών μηχανημάτων και των FMCG’s. Από το 2001 είναι ελεύθερος επαγγελματίας, με δραστηριότητα στην διαχείριση προορισμού, τον θεματικό τουρισμό και τις ειδικές ενέργειες marketing. Είναι παντρεμένος και πατέρας δυο παιδιών, διδάσκει ειδικά θέματα εξωτερικού εμπορίου και κοινωνικής δικτύωσης, σε επιχειρήσεις και οργανισμούς. Ασχολείται ενεργά με το διαδίκτυο από το 1993 με άμεση εμπλοκή στα κοινωνικά δίκτυα και στο «ιστολογείν». Φανατικός ταξιδευτής, ερασιτέχνης φωτογράφος, μαχόμενος αγνωστικός και φιλελεύθερος. Όραμά του μια Ευρωπαϊκή Ελλάδα. https://brexians.wordpress.com
This entry was posted in Uncategorized. Bookmark the permalink.