Here is an interesting read on the Greek election, most of it before the election.
http://globaleconomicanalysis.blogspot.com
And here is what happened earlier Sunday.
ATHENS (Reuters) - Greek leftist leader Alexis Tsipras promised on Sunday that five years of austerity, "humiliation and suffering" imposed by international creditors were over after his Syriza party swept to victory in a snap election on Sunday.
With about 60 percent of votes counted, Syriza was set to win 149 seats in the 300 seat parliament, with 36.1 percent of the vote, around eight points ahead of the conservative New Democracy party of Prime Minister Antonis Samaras.
While a final result may not come for hours, the 40-year-old Tsipras is on course to become prime minister of the first euro zone government openly opposed to the kind of crippling austerity policies which the European Union and International Monetary Fund imposed on Greece as a condition of its bailout.
"Greece leaves behinds catastrophic austerity, it leaves behind fear and authoritarianism, it leaves behind five years of humiliation and anguish," Tsipras told thousands of cheering supporters gathered in Athens.
European leaders have said Greece must respect the terms of its 240 billion euro bailout deal, but Tsipras campaigned on a promise to renegotiate the country's huge debt, raising the possibility of a major conflict with euro zone partners.
Now the jockeying for position begins. Taking some attention from Europe this coming week is the Federal Reserve's upcoming two-day buffet Tuesday and Wednesday. Most expect no surprises coming from that quarter as flat wages and lower energy prices put fears of spreading deflation on the front burner.
If the Greeks are smart this would be the beginning of their swan song. They would just get up and go. It would be rough going for a while, but counting on Brussels bureaucrats rather than your own independence is the more dangerous course of the two in our view.
There is an inherent north-south division here older and more complex than a Gordian knot.
Now the jockeying for position begins. Taking some attention from Europe this coming week is the Federal Reserve's upcoming two-day buffet Tuesday and Wednesday. Most expect no surprises coming from that quarter as flat wages and lower energy prices put fears of spreading deflation on the front burner.
If the Greeks are smart this would be the beginning of their swan song. They would just get up and go. It would be rough going for a while, but counting on Brussels bureaucrats rather than your own independence is the more dangerous course of the two in our view.
There is an inherent north-south division here older and more complex than a Gordian knot.
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