Continued economic decline in Greece will collapse the EU and trigger a global financial crisis
Athens - Kyiv, December 29 (PolitNavigator, Vasily Ablyazimov) - Greek securities index, reported today German economic news, fell again by 11,3% to 756,80 points, which was the worst performance in two years. The reason for the decline is the failure of the presidential elections in parliament. The Greek parliament must now be dissolved, and new elections will be held in January, which the anti-globalist and anti-European left-wing alliance SYRIZA could win.
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“In Greece, on January 25 they will elect a new parliament. Following the collapse of the presidential election, Prime Minister Antonis Samaras said in a televised speech on Monday that he would ask Head of State Karolos Papoulias to dissolve parliament on Tuesday. Samaras is confident of victory, although the left-wing alliance SYRIZA is leading in opinion polls. SYRIZA leader Alexis Tsipras announced after the failure of the presidential elections that the cooperation between the EU troika, the ECB and the IMF and Greece would soon come to an end,” the publication writes.
Antonis Samaras
Against the backdrop of the political crisis, Greek securities continued their decline, reaching the bottom over the past two years. Investors are afraid to invest money in Greece because they expect strong political confrontation in the future, which will cripple the country's economy.
Syriza's leading position in the upcoming parliamentary elections is causing serious concern in financial markets. Thus, the credit policies of the EU and the International Monetary Fund may be at risk. Since the start of the financial crisis in 2008 until today, the EU, ECB and IMF have allocated about $240 billion in loans to Greece, while the country's financial and economic condition has hardly improved, driving the Greeks into record debt in history. The failure of the economic policy to save Greece could lead to a new round of the global and European financial crisis, including the collapse of the European Union.
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