Sunday, January 25, 2015

Euro, stocks fall as anti-austerity party wins Greek election

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Greece risks rising social disorder if they do not withdrawal from the Euro. Sweeping victory in a snap election indicates that the people understand and do not want this outcome. If Greece leaves, others are certain to follow. The Euro, driven by the invisible hand, will discount these outcomes before they become headline news.





Headline: Euro, stocks fall as anti-austerity party wins Greek election

TOKYO (Reuters) - The euro skidded to near an 11-year low and U.S. stock futures fell on Monday as Greece's Syriza party promised to roll back austerity measures after sweeping to victory in a snap election, putting Athens on a collision course with international lenders.

The euro fell to as low as $1.1135 on the vote outcome, not far off an 11-year low of $1.1115 touched on Friday when the common currency took a battering after the European Central Bank unveiled a bond-buying stimulus program last week.

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