There are 17 days left until Greek parliamentary election just 8 months after the previous one. In the small European country called Greece, election results used to matter to investors but this time we see no substantial difference between the two most possible scenarios which we will discuss later. There was a time when everyone believed that a SYRIZA government would have the intention to sail against the “European wind” and lure the country out of the Euro. However, the fact that the former PM Alexis Tsipras agreed to a deal with EU partners shows that he has no intention to force Greece out of the Eurozone. Thus, whether the new government will be led by SYRIZA or New Democracy (opposition party), does not make any huge difference in terms of the European perspective of the country.
In June, when the negotiations between the Greek government and EU officials seemed to head to a deadlock, PM Tsipras has chosen to go ahead with a referendum. This choice has led to huge capital outflows and the imposition of capital controls along with the closure of the Greek bank branches. These actions had a detrimental effect on the economy as well as the Greek stock market which only opened after a 5-week hiatus on the 3rd of August.
Most Greek-listed stocks plunged with the banking sector…. read more on seekingalpha