Greek Saga Continues…


(EU) Greece’s New Democracy and Styriza parties combined control the majority of the seats, both parties are anti-austerity. Greece Conservative Leader quickly announced he will aim to “modify” bailout polices and bring growth targeting to keep country in the EU. Greece Democratic Left leader Kouelis chimed in saying that he will target policy to free Greece from bailout terms, will not aid continuation of debilitating policies.

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(EU) IMF Official noted that they will withhold the next tranche of aid if new austerity measures are not finalized.

WHAT DOES THIS MEAN?

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It means that the Greek Saga is once again in the headlines!  Although PM Papademos is expected to stay on for the short-term until the new government is formed, I’d definitely watch closely on what happens in Greece… If these bozos don’t fulfill the terms of the bailout, I’d expect to see a sharp sell-off in the Euro, and that means potentially 1.2650… so EURUSD is definitely a SELL ON RALLY.

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About Henry Liu

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