Menu

Search

  |   Insights & Views

Menu

  |   Insights & Views

Search

Why Euro less bothered over fresh Greek election?

Euro is up close to percent against Dollar today, in spite of Greek Prime Minister Alexis Tsipras resigning office making way for a snap election next month, September 20th.

Why Euro is less bothered on Greek development now, while little more than a month back turmoil in the country was creating havoc for the common currency?

  • In spite of resigning office over loss of majority and turning his back on stop austerity promises, Mr. Tsipras remains immensely popular at home, which makes him top candidate for return to power.
  • Most of the Greek parties remain Pro-Euro and hardliners might not even do well with Tsipras not aligned with them.
  • Moreover new election with new parties in power, unlikely to change the course of current bailout agreement, which was done among Euro zone partners/creditors and Greece, not with any political parties.
  • Greek people overall remains pro-Euro, which makes the election win difficult for hardliners as it has been quite clear it is either bailout way or exit.

Euro is currently trading at 1.135, up 1% against Dollar so far today.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.