Greek Parliamentary election

[longfingernails]

ND has a small lead over Syriza - though whether it is enough to form a coalition together with PASOK is unclear.

I saw this. It's based on exit polls, and the margin is close enough that it could yet go either way.

ND on 29.5% and S on 27.1% according to SKY.

Just realised it's actual results: ND have won - now it's coalition attempts again.

Pasok got 13.2%

Can I ask a question? What does the result mean for the stability of the euro?

If the winners are pro-bailout and can form a government (big if) then it should be good news for the stability of the euro. Rock and a hard place for the Greeks though.

@PositiveAttitude

Well the results mean that the markets probably won't nosedive tomorrow.

But soon after a few days, at most a few weeks and people will realise that actually nothing as really changed. The fundamental problems with the Euro are still there. Spain is still in dire straits. So is Ireland, Italy, Portugal. Germany cannot economically save everyone and politically are unwilling to even do so.

Until the politician's put their todger on the table and actually start to put a proper solution in place then the instability will continue.

And in my view the only real solutions are:

1. Eurobonds which are underwritten by Germany all Eurozone states.
2. Closer financial union, tax harmonisation and budgetary policies.

Unfortunately 1) will probably cost Angela Merkel her job. And 2) will need a hell of a shitstorm before politicians will take that piece of medicine.

It also begs the question what the hell does the UK do if 2) happens? We've sort of got this relationship with Europe where we pick & choose the bits we like. The day is fast approaching where we have to choose. Are we in or out?

Thank you very much for the explanation. Not looking good, is it? Yes, Rock and hard place, or bad and worse! I am feeling grateful that UK are out of the "euro", can't really see any positives for it, but maybe I am not seeing it from all angles.

There were/are plenty of positives for the Euro. One single, stable currency across a wide commercial area means easier trading & therefore greater confidence than the days when there were multiple currencies, all fluctuating at their own rates. If you trade with companies in Zimbabwe, for example, they'll often price in US Dollars because their own currency is so volatile - similar sort of idea. The difference is that the USD 'member states' -the USA - fall under a single US economic policy and the US does not take responsibility for the Zimbabwes of this world. Whereas the Euro area does not have a single economic policy, just parameters, and is obliged to prop up member countries when they don't meet them.

Looks like I was wrong. The markets have already realised that nothing's changed one bit.

Market rally runs out of steam

BBC is reporting that Samaras hopes to form a coalition. Anyone have a feel for whether this hope is likely to be realised?