Euro Faces Political Test Next Week
A Seeking Alpha Contribution
Summary
- The euro is at a technical crossroads: the charts favor a bounce, but events lean bearish.
- Greece’s ruling party appears to be losing the presidential vote.
- The Greek vote could influence ECB policy and upcoming elections in the UK and Finland.
Greece is back in the headlines. The ruling party has called a snap election for president, but if the party fails to elect its candidate, it will trigger parliamentary elections at the end of January that could hand power to the anti-austerity opposition.
Political Crisis
The Greek debt crisis is an economic crisis, but it is also a political crisis. After five years, the Greece debt crisis is unresolved because there is no broad consensus between the political leadership in Europe and the voters of Europe on how to deal with the debt problem. Within Greece, there is a disagreement over austerity. In the wider European Union, a similar split exists. Many voters, such as those in Germany, oppose bailouts for Greece, while European leadership has mostly favored them…. To Continue Reading Please, Click Here.
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