Greek landslide election may start economic tsunami in the EU.
EU may get severe economic storm, if the popular Syriza party wins Greek parliamentary elections in January.
Angela Merkel, Jean Claude Juncker and François Hollande biting nails with the prospect of a year of pocket pain in the EU.
The popular Eurosceptic party, Syriza is liable to trigger an economic crisis in Europe if they win parliamentary elections on January 25.
Greece may well run from the bills.
The party Syriza is on the extreme left-wing Greek and has profiled itself on that would drop the tough austerity which the EU has made to the country. And their appearance on the political scene is very bad timing seen with the EU economy eyes.
– It comes at a very inopportune time. Europe is already struggling to create anything growth, and it has been difficult. Now comes the extra spanner in the works.
Although you will not be popular at this abroad, it is actually theoretically possible for Greece to run from a bill of 240 billions euros. Thence to the country, however, will probably go bankrupt.
– Greece may well choose not to pay the debt they have, either because they are unable to do so, or because they do not want it. But it will be completely totally unheard of for the EU countries, and it will create a huge political crisis.
If Greece can get waived their huge debt by simply sweep the bill, it will shake the foundation of the euro. Economic cooperation is in fact built on trust between countries and a consensus that we must honor its agreements.
The debt-ridden European countries such as Portugal, Spain, Italy and Ireland, which will see the agreement, the Greeks, where appropriate, will be agreed with the EU. The countries do not have as many pocket pain as the Greeks, but will be in serious financial difficulties if Greece drops the debt security in the trash.
The government’s defeat in parliament resulted immediately in the Greek stocks fell by more than 10 percent.