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Monday, June 18, 2012

The Dead Cat Bounce of The Greek Election

The markets are currently going through the motions of a dead cat bounce, in response to the results of the Greek election (which did not, at this stage, put Syriza into office).

However, the results show a deeply divided nation (29.7% to New Democracy and 27% to Syriza) which is going to need a third bailout by July if it is to avoid complete financial collapse.

In other words the fundamentals have not changed, and the problems that Greece and the Eurozone face have not gone away!

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