Investing In Greek Elections
By Trebizond Investments:Ahead of Greek elections on June 17th, we believe European markets will continue to tumble based on justified fear and a lack of central European leadership.
Eurozone economies, the majority of which are forecast for growth in 2013, have been slowing significantly in 2012. The PIIGS bloc continues to lead the growth slowdown, with Greece and Spain the only Eurozone countries forecast to have negative growth in 2013 by the executive arm of the European Union.
European voters have repeatedly punished incumbent governments and rewarded government promising change over the past year. Investors, on the other hand, have shown little faith in the new government's ability to turn around the economy.
- Hollande won on promises of changing the status quo
- Impracticality of socialist policies not an obstacle in his election
- Hollande now stands as an obstacle against German austerity policies
- Result: the iShares MSCI
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