Update on Greece


With less than two weeks left to general elections in Greece the result is still in the air with the main two parties: governing (until recently) Syriza and opposition New Democracy (in power until January) going head to head.

The latest poll for bankingnews.gr gives Syriza a lead but it’s a very thin one with 27% compared to 26,5% for ND. If such outcome was about to materialize, no party would enjoy an outright majority and coalition could be difficult to form.

35% of Greeks wants the two main parties to form a coalition but such outcome looks unlikely at the moment. Tsipras (ex PM, Syriza) said he’s not looking forward to it and while Meimarakis (ND) said he was opened to cooperation, he called Tsipras a "liar" at the same time...

Meanwhile, Greece is facing a massive wave of immigrants putting even more strain on the beleaguered economy. This wave is intensifying and may well have an impact on election results with parties like nationalistic Golden Dawn trying to capitalize on fears related to this process.
Markets do not seem to worry too much at the moment but if a coalition cannot be formed worries may return.