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Official projections show the establishment (pro-bailout) parties - New Democracy and Pasok -...

Official projections show the establishment (pro-bailout) parties - New Democracy and Pasok - with enough seats to form a government in Greece. New Democracy is projected at 30.1%, Syriza at 26.5%, Pasok at 12.6%. Pasok indicates it will provide the votes to create a majority but will not take part in the government, reports Dow Jones. The euro is buying $1.2705 vs a Friday close of $1.2638.
Comments (18)
  • untrusting investor
    , contributor
    Comments (9966) | Send Message
     
    Ahhhhh so whats the case for more QE and more ECB intervention now.? What has fundamentally changed in the EU crisis ... nothing. Except perhaps the threat of a Greek default has been temporarily removed for perhaps a few more months yet.
    17 Jun 2012, 04:48 PM Reply Like
  • Garfield23
    , contributor
    Comments (162) | Send Message
     
    euro got a pop on the news and now is trading down...
    17 Jun 2012, 06:22 PM Reply Like
  • Garfield23
    , contributor
    Comments (162) | Send Message
     
    after all is said and done....Germany will be bankrupt in 2 years....as all these others have loaded them up with debt that can never-ever be repaid....its a fools game and investors are starting to catch on....
    17 Jun 2012, 06:29 PM Reply Like
  • Dividend Monkey
    , contributor
    Comments (177) | Send Message
     
    Risk on??
    17 Jun 2012, 05:17 PM Reply Like
  • winningtrader
    , contributor
    Comments (2476) | Send Message
     
    This is irrelevant. Greece is bankrupt and pro or against bailout parties cannot change that. There will be no reforms in Greece and they will leave the EUR possibly by starting a parallel currency as they would run out of cash to pay bills locally. All the lenders will get exactly nothing paid back.
    17 Jun 2012, 05:28 PM Reply Like
  • TangoOscar
    , contributor
    Comments (377) | Send Message
     
    DUDE, MASTERCARD UPPED MY LINE OF CREDIT!!!
    17 Jun 2012, 06:19 PM Reply Like
  • Garfield23
    , contributor
    Comments (162) | Send Message
     
    more like: those credit cards I stole, well they gave me another week to use them bf I had to turn them in.....
    17 Jun 2012, 06:23 PM Reply Like
  • Day Trader001
    , contributor
    Comments (730) | Send Message
     
    "Make money on the news while you can"
    17 Jun 2012, 06:35 PM Reply Like
  • Andres Rueda
    , contributor
    Comments (174) | Send Message
     
    Oh, gee. I guess global capitalism will live to see another day thanks to the election results in a country with an economy the size of Rhode Island.

     

    Meanwhile, in another dimension... the US federal debt reaches 103% of GDP, even as 10-yr T-bond yields drop to 1.57%. In some instances (and in ALL INSTANCES after accounting for inflation), fear-driven investors are PAYING "safe haven" governments (US & Germany) for the PRIVILEGE of lending to them on a long-term basis. I guess these investors want to protect their principal, except that... oooops, bond prices move inversely with yields and as yields revert to historical norms or at least catch up with inflation that principal will get crushed.

     

    Well, at least tomorrow the "euro crisis" fear trade gets cooked. About time, as it is getting annoying.
    17 Jun 2012, 06:36 PM Reply Like
  • Ohrama
    , contributor
    Comments (515) | Send Message
     
    All problems facing us are gone now. We can go back to our way of living through equity extraction and spend, buy cars with no down payment etc. And DOW will be up another 1000 points tomorrow and spend away that gain too!
    17 Jun 2012, 07:02 PM Reply Like
  • jmartz101
    , contributor
    Comments (187) | Send Message
     
    WOW now the European Debt Crisis is over!!!
    17 Jun 2012, 07:25 PM Reply Like
  • JohnLocke
    , contributor
    Comments (381) | Send Message
     
    I was worried now I feel better...

     

    Will this mean I get a better price on my olives?
    17 Jun 2012, 08:13 PM Reply Like
  • mickmars
    , contributor
    Comments (1323) | Send Message
     
    Shame on us for thinking any non-German European nation might have some kind of a backbone.
    17 Jun 2012, 09:20 PM Reply Like
  • SoldHigh
    , contributor
    Comments (1013) | Send Message
     
    Another day, another worthless headline from the dieing EU...
    17 Jun 2012, 09:31 PM Reply Like
  • lostagain
    , contributor
    Comments (36) | Send Message
     
    Great!! we voted for the same people that loaded us with debt and made my country the financial clown of the world. Thing is everybody is relieved we did so. Am I missing something?
    18 Jun 2012, 12:32 AM Reply Like
  • Valueplay98
    , contributor
    Comments (584) | Send Message
     
    All comments above are fantastic !

     

    I still think the Greeks will play hardball well because the can - Europe is ready to be set on fire and the Greeks know they can light the match ... this will lead to re-negotiation of better terms for themselves.
    18 Jun 2012, 01:50 AM Reply Like
  • daxotis
    , contributor
    Comment (1) | Send Message
     
    My parents have a large sum of money in a major Greek Bank and I continue to urge them to withdraw the cash otherwise it's value will be decimated once Greece is no longer in the Euro and they are forced to go back to the Drachma. My mother still hasn't withdrawn the money and doesn't prioritize this as an important issue.
    Greece is a lazy, stubborn, and foolish country and deserves to be kicked out of the Euro. Whether it's a business or a country, one cannot be complacent for an extended period of time in a global economy and still expect continued success. Greece is fine for the moment but will not be able to repay the debt and will become insolvent in the very near future. And I say all of this and I'm Greek!
    C'mon people...wake up over there! There's more to life than spending money and trying to show off to everyone!
    18 Jun 2012, 03:09 AM Reply Like
  • Dr. V
    , contributor
    Comments (1179) | Send Message
     
    Rioting and Bank runs will topple "New Democracy" within days.

     

    Remember Germany trying to get everyone else on board in March 2010 telling them all to buy the Greek Sovereign Debt?

     

    That was so Germany could reduce exposure of their own Greek debt in the euphoric confusion.

     

    I had this talk with Christian Menegatti, Managing Director of Research for Roubini Global Economics. on the phone while in New York, in March of 2010 after being invited to a Roundtable Event.

     

    Syriza will get their way, and Germany will be exposed for the international fraud they are.
    18 Jun 2012, 04:33 AM Reply Like
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