Once again it is the events in Greece that is raising concerns of a possible Euro breakup to new levels. Only days after Parliamentary elections sent a clear message from the Greek constituency that the days of pain and austerity were over, the newly elected ruling parties are still unable to form a coalition government. Investor worries that without a coalition government Greece would not receive its next tranche payment of EUR5.2 billion from the E.U./IMF have now been rendered moot. Late yesterday, it was agreed by the board of the EFSF that the payment would go through as scheduled, surely much to the chagrin of Greece’s newly elected anti-bailout cotillion. Read more
