When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Monday, June 18, 2012

It's all Greek to me! (Sunday Election Results)

Greece--all is  not what it seems:

Greek Election Results - Business Insider: " . . . at first it all seemed good... but then around 9:00 PM in Athens, word came that the leader of PASOK, Venizelos, was threatening to withhold support for a new government unless SYRIZA also joined as part of a broad coalition. . . The meme in Athens is that SYRIZA leader Alexis Tsipras didn't even want to win, and always wanted to come back and run again in 4 to 8 months after the establishment parties lost standing. So suddenly what looked like a solid result had gone sour. But Athens insiders figured right away that Venizelos HAD to be bluffing . . . And that now seems to be the case. According to reports, Venizelos is signaling an agreement to join the government, but it's not clear how he will. . . . The mood here now is fatigue. Everyone expects elections soon, and nothing at all has really changed. Markets may be temporarily relieved that SYRIZA did not win, but this is far from a powerful market positive. It just averts what might have been a disaster. . . . "


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects