At least for now the markets seem to be happy with the result of the Greek election. It looks like the pro bailout parties will form a coalition and seek to "re-negotiate" the terms if not the conditions of the debt repayment. There was talk over the weekend of Greece perhaps being given more time to bring in the austerity and bailout policies, but whether there is any new agreement on this or not, Greece will probably fail to hit its targets in future anyway so the EU may have little choice but to play the long game.
So, disaster and crisis for the markets has at least been avoided for now and those seeking doom and gloom will probably have to look elsewhere. It will probably be Spain.
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