Seeking Alpha
Seeking Alpha Portfolio App for iPad
Finance
(1)
Market Currents

"The centrist parties will rebound" in June elections, contends a Greek businessman, dismissing...

  • Wednesday, May 16, 2012, 9:42 PM ET
    "The centrist parties will rebound" in June elections, contends a Greek businessman, dismissing polls pointing to a victory for the left-wing Syriza party. Toss in the influence of France's new president, and another Greek rescue just might occur this summer. Whatever one thinks of such schemes, another can-kicking deal is not being priced into markets at the moment.
Track new comments on this story

This news story has 9 comments:

  • Adding credence to the assertion that the centrist parties will rebound are the following two articles in the German news journal Siegel.

    In the first one notes the weakness of the arguments advanced by the Syriza Party representative:

    http://bit.ly/Jg7Pf5

    In the second the most interesting observations are made in the centre-left and leftist German newspapers. Essentially they both refute any thought that the Syriza Party can be taken seriously as mature leftist party in the modern context.

    http://bit.ly/K9enIV

    In a nutshell, over the course of the election campaign it should become obvious to the bulk of the Greek electorate (including those that traditionally have voted for parties of the left) that the Syriza Party only offers wishful (almost magical) thinking and in office they would be a disaster waiting to happen.
    16 May 2012, 10:14 PM Reply Like
  • What's wishful thinking is thinking that another deal is going to "save" Greece. It will be gone from the eurozone before the end of the year, probably by the end of the summer. One stage of the miserable nightmare of the euro will be over.
    16 May 2012, 10:28 PM Reply Like
  • Ill take the other side of that trade.
    16 May 2012, 10:41 PM Reply Like
  • History tells us the left wins. Look to history.
    16 May 2012, 10:36 PM Reply Like
  • Actually it's the other way around. Leftist governments make messes, and leave behind failures (Soviets, Cuba, North Korea, etc...)
    16 May 2012, 11:09 PM Reply Like
  • Not sure how two parties that lost a significant amount of votes in the last election will suddenly gain ground when the economy is getting worse.

    That businessman has a lot of hopeful thinking.
    16 May 2012, 10:39 PM Reply Like
  • David -

    Good point. Further, the current actions of the ECB in not helping several Greek banks cope with depositor panics will be see for what it is (i.e. an attempt to scare voters back to the traditional Parties)

    On the other hand, there are a number of pro-EU minor Greek Parties that are centre-left or centre-right in orientation that generally don't gain enough votes in elections to win seats (or a significant number of seats) in the Greek Parliament and a concerted effort is being made to form these in electoral alliances with PASOK, New Democracy or otherwise so that PASOK and New Democracy are augmented after the election sufficiently to form the government.
    17 May 2012, 12:14 PM Reply Like
  • Dave -

    You'll find the following report from Thomson Reuters published in the National Post of interest:

    http://natpo.st/Kk9NW2

    Obviously the poll in question is simply an early snapshot in an election that promises to be volatile. It is, however, encouraging to see indications that the empty populist bravado of the Syriza Party and especially of its leader is not going over well with the Greek electorate.
    18 May 2012, 01:51 AM Reply Like
  • The politicians and the bureaucrats bungled up on this one. They should have let Greek go a year or two ago and cut their losses dead on the track.

    Not surprisingly, they fell prey to self-denial and were self blind-folded.
    16 May 2012, 10:47 PM Reply Like
Other date
DJIA (DIA) S&P 500 (SPY)