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.
Other date
Latest Global Articles
This news story has 9 comments:
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.
That businessman has a lot of hopeful thinking.
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.
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.
Not surprisingly, they fell prey to self-denial and were self blind-folded.