Categories: Fundamental Analysis

Victory for Syriza – victory for Greece?

Anti-austerity party of Syriza has won the elections.It is possible that the radical party can have absolute majority. The people of Greece has spoken and outgoing Prime Minister Antonis Samaras admitted his defeat.
As the left-wing party stated, their primary goal will be to negotiate the terms of the bailout debts that started during 2010. Greek’s European partners, on the other hand said that Greece will have to respect these terms, however there is some room for flexibility and negotiations.

According to British Prime Minister David Cameron, the outcome of the elections is going to “increase economic uncertainty across Europe”. However returning the drachma is not on Syriza’s agenda. Euro opened with a gap and reached an 11 year low at $1.1098 against the US dollar.

Image Sources: bbc.com, cfr.org

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.