"To be honest, we feel quite removed from Greek bank funding nowadays. Even if Greek banks couldn't fund, I just don't really see it making much difference to financials as a sector," said a third investor.

    And should the election outcome eventually lead to Greece's exit from the euro, many peripherals would be in a similar boat, he added.

    "If there were actually a Greek exit, we'd expect risk premiums to rise generally for non-German continental Europe, but I wouldn't expect it to be material nor prolonged, with the ECB technical factor supporting the market."

Perhaps the long uncertainty has been beneficial in the sense that it will lessen the impact of a Greek exit. What will be interesting, is if 10 years down the line, Greece has its own currency, and Spain or Portugal are envious of their position.

BTW, what is this '...said a third investor' crap?


organicAnt:

Greece are not exiting the economic union. Yanis Varoufakis, the current finance minister, made his position loud and clear in this interview a few weeks back. In his view the consequences of leaving without having an alternative currency would be catastrophic.


posted by mk: 1389 days ago