Greek Parliamentary Election
Sunday June 17th 2012
In two days, Europe could be a different place.
That’s how influential this Greek election will be. The Euro will be greatly affected and we can expect high volatility in the market for at least the first part of next week. A large gap at the open of the market Sunday is very probable, and possibly could be filled within the first half of next week. Be very careful trading.
[column size=”1-2″ last=”0″ style=”1″]A leftist victory could trigger Greeks exit from euro zone and draw more attention to Spain’s and Italy’s crises. Alexis Tsipras, the 37-year-old leftist strongly opposes bail-out plans.
Many are said to be rapidly withdrawing money from their deposits in Greek banks because of the possible outcomes of this general election.
For those of you who don’t know.. THIS IS HUGE. We are not talking only about the nation of Greece here. All of Europe could be catastrophically affected.
ECB (European Central Bank) head Mario Draghi communicated that the ECB is ready to provide more liquidity to euro-zone banks.
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With Europe’s ground already shaking because of Spain and Italy. The near future of the euro is full of uncertainty. Spain’s 10 yr bonds hit all-time, euro-era highs of 6.96 percent Thursday.
If there is ever a time to pay attention to the fundamentals, it’s now.
It’s being said that an anti-bailout election could be critically hurt the European market but could mean for calm in the streets. It’s speculated that if the pro-bailout party triumphs, it would be good news for the European market but the streets could find themselves in turmoil.
Time will tell. In the meantime, be very careful trading in the next week.
Written By: Tony College
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