Greece Could Drop Euro/Greek far right
Posted: Tue May 08, 2012 10:25 am
The results of the latest elections in Greece may make it more likely that the country will eventually leave the eurozone. But such an exit would probably be more orderly than Greece's default, experts said.
Over the weekend, Greece was unable to pull together a cohesive government, as voters signaled their displeasure with the spate of harsh austerity measures thrust upon them.
That has increased the odds of a Greek exit from the eurozone. According to Citigroup analysts, the probably of a Greek exit, which they dubbed a "Grexit," is now as high as 75%.
Citi analysts said the election results highlighted the sharpest drop in public support for mainstream parties in decades and "underscores rising public opposition against austerity."
It also may throw into question the next round of bailout funding from the IMF, European Central Bank and European Union. More than ?31 billion is slated to be disbursed during the quarter. If Greece fails to make progress, the so-called troika may withhold the money and Greece would run out of funding, say the analysts.
Read more: http://www.wdsu.com/money/31022577/deta ... z1uGx6Rsqi
Greece's Jewish community on Monday sent its members a laconic, factual e-mail. Without any interpretive adornment, the message conveyed a few dry facts. In elections staged on Sunday, the Golden Dawn neo-Nazi party won 7 percent of the country's popular vote - a tally twice the minimum threshold level required to send representatives to parliament.
The update also included information about districts in which Jews live, and also biographies of the delegates that the far-right party will send to parliament. All told, Golden Dawn will have 21 parliament seats out of 300.
Does anyone think the course Greece is taking will benefit the Kurds in the North in anyway? The far right is very anti-Turkish, and the new government set to come to power, is a coalition of Far right, left etc.. Anyways their government is going to aim for growth instead of austerity since their defaulting.
