Greece's new Finance Minister Yanis Varoufakis says the government will look to "end the vicious cycle" of bailout and borrowing.» Read More
Despite bold election talks, Greek leftist party Syriza has limited options and will opt to stay within the euro zone, says Michael Kelly, Managing Director, Global Head of Asset Allocation at Pinebridge Investments.
NEW YORK, Jan 26- The euro rebounded on Monday as investors took advantage of steep losses sustained during two days of dramatic selling, with the final push down to a fresh 11- year low coming after elections in Greece put an anti-austerity government in power. Greece elected, as expected, left-wing leader Alexis Tsipras of the anti-bailout Syriza party.
The most unpopular man in Greece appears to have won enough votes to become a new member of the Greek parliament.
*MSCI global share index up slightly. The electoral results spurred concern over new instability in the euro zone, even as the possibility of Greece leaving the bloc was considered remote. The MSCI's global share index was up 0.2 percent, while the S&P 500 was nearly flat.
Overall, the losses were far from unusual for Greece's volatile markets. First, open threats of "Grexit" from the euro zone; second, any writedown of the country's private sector debts; or third, an easy capitulation of euro sovereign creditors that boosts support for other anti-austerity parties, such as Ireland's Sinn Fein or Spain's Podemos, that could sow...
NEW YORK, Jan 26- The euro rebounded on Monday as investors took advantage of steep losses from two days of dramatic selling, with the final push down to a fresh 11- year low coming after the results of elections in Greece put an anti-austerity government in power. Greece elected, as expected, left-wing leader Alexis Tsipras of the anti-bailout Syriza party.
The election result in Greece reflects a growing European backlash against austerity policies. Across the continent, support is growing for parties and groups outside the mainstream like Syriza, which triumphed in Greece on Sunday after pledging to renegotiate the country's huge bailout agreements. The Northern League party has seen its poll numbers rise...
ATHENS, Greece— Some key facts on the Greek economy as radical left-wing party forms new government:. Public debt: 316 billion euros, or 176 percent of gross domestic product. Gross domestic product: 182 billion euros.
*MSCI world shares, U.S. stocks edge lower. The victory by the Syriza party spurred concern over fresh instability in the euro zone, even as the possibility of Greece leaving the bloc was considered remote. "The ongoing display of angst is that Greece removes itself from the euro zone.
George Kakarelidis, senior lecturer at the Technological Educational Institute of Patras, says the Greek coalition government has one purpose only: to try to renegotiate Greece's bailout terms.
Greece's elections could signal a shift in the Old Continent's economic policies, CNBC's Jim Cramer said Monday.
Vicky Pryce, chief economic adviser at CEBR, talks about the future of Greece in the euro zone.
Pierre Moscovici, EU economic commissioner, gives his thoughts on Greece's new Prime Minister, Alexis Tsipras.
There's not a lot of support for the potential of writing off Greek debt. Jeroen Dijsselbloem, president of Eurogroup however says they've already done a lot to lift the debt burden from Greece.
Kerry Craig, global market strategist at JP Morgan Asset Management, talks about a Greek coalition, saying that the weeks ahead will show "bumpiness" in terms of market reaction.
Euro zone officials are ready to discuss Greece’s debt burden with Syriza — but only if the anti-austerity party sticks to bailout conditions.
The European Union is unlikely to reduce debt owed by Greece but could lower the interest rate, distressed asset investor Wilbur Ross tells CNBC.
*Rock-Tenn and MeadWestvaco rally, set to merge. NEW YORK, Jan 26- U.S. stock index futures pointed to a flat open Monday after a decisive Greek election victory by the Syriza party spurred concern over fresh instability in the euro zone, though the possibility of Greece leaving the bloc was considered remote. While Greece is a relatively small economy that the...
But Joseph Stiglitz says Europe should try to hold the single currency euro together.
The left-wing Syriza party has won the elections in Greece, promising an end to the austerity program struck with the Troika. Experts comments on whether the new government can fulfill its promises and what it means for the euro zone.