Ashraf Laidi on CNBC Arabia (Greece, Spain & Techs), May 10, 2012

May 10, 2012 16:40
The balance between austerity and growth appears to be tipping into the side of growth reforms, prompting Eurozone sovereign yields to remain supported at the expense of the euro. Meanwhile, markets (euro bulls) are hoping that former Deputy Prime Minister/Finance Minister Venizelos will succeed in forming a new coalition (Democratic Left, Pasok and New Democracy) next Sunday, while excluding the anti-austerity Syriza party. As vocal as the anti-austerity backlash erupts in the Greek street, it lacks the required momentum to pass a complete rejection of austerity policies in Parliament. Meanwhile, EURUSD shows a familiar bottoming pattern, covered in our latest Intermarket Insights

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