#Greece: New Elections Likely, Odds increase for Eurozone Exit political #meltdown

Brian Wolfe

6:10 PM  -  

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Or Germany and the rest of the EU will decide to actually act like a cohesive organization and stop cutting itself to death by giving Greece and other members some actual stimulus instead of poison.

Greece: New Elections Likely, Odds increase for Eurozone Exit »

It appears no party will be able to form a coalition government, so there will be another election in June. A record large number of registered voters didn't vote in the recent election, and the outcome next month probably depends on if these people participate in June. The odds of Greece exiting the euro zone in the near term (and the euro) have clearly increased. From the WSJ: New Election in Greece Looks Likely Greece's political turmoil sho...

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John Hardy6:23 PM

+1

Yes the problem is that Greece can't devalue which is what it needs to do. They have a choice of either slowly slashing wages and prices which is a very hard thing to do OR Germany has to suffer a little inflation at home.

The fact that Germans can put national interest over the wellbeing of the eurozone as a whole shows that the currency has no long term future in the peripheral countries.

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Brian Gauspohl

6:01 PM  -  Public

Greece

http://blogs.aljazeera.com/europe/2012/05/08/greeces-political-meltdown

Greece's political meltdown »

Looking back, the signs were there. At the final campaign rallies in Athens of the two political parties which have traditionally dominated government in Greece, New Democracy and the Socialist PASO...