elections in Greece, will euro sink more?

S

silverprepper999

New Member
What do you think, will euro sink even more tomorow after elections in greece? (they are probably going to choose non-savings policy party)
 
Bloody hope so, I'm stacking Euros. I don't think there'll be much change though as it would have already been priced into the market and a lot of mislead hype like Syriza wanting to drop the Euro (they don't)
 
It is a race to the bottom... the Euro is winning that race, in the eyes of those running the EU this is going to plan. A Greece on the edge is an asset in the race to debase
 
Revils said:
Bloody hope so, I'm stacking Euros. I don't think there'll be much change though as it would have already been priced into the market and a lot of mislead hype like Syriza wanting to drop the Euro (they don't)
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Agree about it mostly being priced in as Syriza has been leading in the polls for quite some time. What I'm not so sure on is how big of a victory they'll have and how easily or difficult it will be for them to form government. Will they govern alone or will they need to form a government with a few of the other minor parties? This I'm not so sure has been priced in.
 
Exit polls are suggesting a big win for Syriza. Either just over or just under the 150 seats they require for an outright majority
 
Could the euro ultimately become stronger once all the bankrupted countries like greece have left the euro?
 
Euro falls sharply on Syriza victory
26 January 2015 1:23 PM

The euro has fallen sharply against the dollar after the anti-austerity Syriza party won the Greek general election.

The euro briefly fell as low as $1.1088 - the lowest level against the dollar in more than 11 years.

Traders says there is uncertainty about what happens next in Greece, as Syriza leader Alexis Tsipras has pledged to renegotiate Greece's debts.

He has also vowed to reverse many of the austerity measures adopted by Greece in return for bailout deals.

Bbc news
 
If the Syriza party buggers up Greece's already bad economy with their anti-austerity measures, I would expect a sharp fall. If they exit the Eurozone, that will make things worse for the Euro.

On the other hand, if they succeed where the previous government failed, it could rally other anti-austerity groups in places like Spain, Ireland, and Italy.
 
billybob888 said:
Could the euro ultimately become stronger once all the bankrupted countries like greece have left the euro?
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Leave the EU?! The EU is a jail, you can't just decide to leave
 
Peter said:
Euro falls sharply on Syriza victory
26 January 2015 1:23 PM

The euro has fallen sharply against the dollar after the anti-austerity Syriza party won the Greek general election.

The euro briefly fell as low as $1.1088 - the lowest level against the dollar in more than 11 years.

Traders says there is uncertainty about what happens next in Greece, as Syriza leader Alexis Tsipras has pledged to renegotiate Greece's debts.

He has also vowed to reverse many of the austerity measures adopted by Greece in return for bailout deals.

Bbc news
Click to expand...


It doesnt look like anything changed significatly:

2jeeix5.png


maybe for a brief spike this morning in Europe, but it got back where it was before elections. More impact was from swiss franc unpeging last week.
 
The markets must have expected the ultra left wing party in Greece to win, the euro is only down less than 1/4% against most currencies. I think the key thing for the euro and Greece is what Angela Merkel has to say about this situation.
 
Currency flows are not so straightforward. Japan announced today that their trade deficit shrank which boosted the Yen and weakened the US dollar index which caused the Euro to rally against the USD. There's a lot skin in the game in relation to the Yen/US dollar carry trade which has one of the biggest influences on the money markets. I can still think the Euro is heading to the 1.10 level and possibly further in the near term.
 
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