Market Watch

A Big Week for Greece

16 Dec , 2014  

Market Watch TuesdayGreece is still suffering at the hands of their political crisis, and the boss of their central bank, has warned that their economy faces “irreparable” damage as a result.

In the words of Yannis Stournaras; "The crisis in recent days is now taking serious dimensions...and the risk of irreparable damage for the Greek economy is now great".

Greek politicians will start voting tomorrow for a new Greek president. If the government nominee loses, there will be a snap general election.

The political uncertainty has destabilised Greek markets over the past week.

Greece's government has warned of further catastrophe if snap elections are called and left-wing anti-bailout party Syriza wins. Syriza’s response has been to accuse the government of fear mongering.

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