I'm not going to be overly shocked to see $300 before the end of the month.
I'm <3ing the Europe news as a whole.
In that case tomorrow should be interesting... Greek elections.
sort of predictable result.
Loony left will win. They won't be able to renegotiate their loans to any great extent. They will not risk leaving the Euro. Loony left have to come to terms with the reality of speeding too much and not earning enough.
Yeah the win is pretty well expected..and yeah I agree they probably will not be able to win that much debt relief in the end , despite his promises (though if he does stand firm, then we could see some fireworks)
In the short term it will be interesting to see if Alexis Tsipras wins outright, or needs to form a coalition. If he wins outright, then it could be the start of a staring match in which we get to see who blinks first, him, Greece, Merkel et al, (or investors)..
The "perfect storm" would be if he won outright (as then he has nowhere to hide) so has to appear at least to stand and deliver on his pre election promises (or get a lot of flack for a u-turn) then if Merkel and the ECB/IMF do not blink (Italy,Spain, Portugal etc will all be looking) and if reaching an agreement seems to be stalling, if even a small possibility of a Grexit looms, or just a few days of uncertainty, then worst case scenario (other than an actual grexit) we could see investors react taking precautionary measures, and there could be some capital flight from Greece, Greek banks etc maybe even a preemptive play to force Tsipras hand. Ultimately though he is walking a tightrope, and has very little room for any mistake, unless he wants another election on his hands in the not to distant future. I think that tptb in Europe would prefer if Greece stayed in (unless they have secretly decided they want to split the union) So chances are, Merkel will not blink much and Tsprias will have to eat humble pie to some degree and strike an agreement, preferably quickly.
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