Tsipras said he expects the EU will try hard to keep Greece in the euro even if he wins elections and makes good on his pledge to repeal austerity measures required in the European bailout, according to a separate report.
“Opinion polls are banned in the two weeks leading up to the Greek election, so investors will have to decide themselves whether Ireland’s acceptance of the fiscal treaty and Spain’s bank bailout are more likely to convince Greek voters to stay the course with Europe, by voting for the center-right New Democracy party, or effectively unilaterally reject austerity, by voting for the far-left Syriza party,” said JP Morgan Funds chief global strategist David Kelly in a note this week.
“The latter choice could, in the extreme, result in a disorderly default by Greece on its foreign debt – an action which would be catastrophic for Greece and a huge setback for Europe,” Kelly wrote.
Greece’s stock market is rallying amid reports Greeks are draining cash from their bank accounts and stockpiling food. [Greece ETF Rises Amid Bank Withdrawals, Food Stockpiling]
Dow Jones Greece Stock Index
