Greek Stocks Crash, Default Risk Spikes After PM GREXIT Comments | Zero Hedge.
Just 2 short months ago we noted S&P’s warning that Greece will default again within 15 months and following comments by Prime Minister Samaras that the market’s drop is due to fear that Syriza will win an early election and seek a Greek exit from the Euro. Pressuring parliamentarians and the public alike, he stated “the choice is simple,” warning that Greek financing needs are only covered through the end of February without further aid from the EU (but we thought they were ‘recovered’). Greek stocks have crashed further, Greek default risk has spiked, and 3Y bond yields are now well north of 10% (138bps inverted to 10Y).
As Bloomberg reports,
Greek PM Antonis Samaras says country’s financing needs covered until end-Feb, in comments to lawmakers of his party in parliament today.
Greece will get next tranche of its bailout loan; if we have elections everything is “up in the air”
Markets react to possible Syriza election win, fall because they fear Syriza: Samaras
Samaras calls on all Greek lawmakers to assume their responsibility; says choice is simple, president or early elections
Dimas is excellent candidate for presidency: Samaras
Credit line to shield Greece’s first steps: Samaras
The result:
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