26th January 2015 - Greek Votes for No Grexit

Jan. 26, 2015 - PRLog -- Stock Port Associates is one of the world’s largest and most established offshore investment firms operating within a tax-favorable jurisdiction. Whether it’s dealing with new regulations, setting up an offshore presence, attracting new investors or identifying independent directors, we have the expertise to assist you.

26th January 2015 - Greek Votes for No Grexit

Major European Indexes as of 26th January 2015

FTSE 100 - 6,832.89 (+0.53%)

DAX 10,649.58 (+2.05%)

CAC 40 - 4,640.69 (+1.93%)

After a positive response to the ECB's QE program late last week European markets are expected to open lower as the ramifications of Greece's vote at the weekend start to be digested.

On Sunday the Greek's went to the polls and elected a far left party for the first time in decades. Alexis Tsipras the leader of the Syriza Party has taken the helm at what could be described as one of the most critical times in Greece's modern history.

The parties staunch opposition to further austerity and an exit from the Eurozone as well as the financial bailout saw voters flock to polling stations to show their support. What the new leader has to do now is put a fiscal policy together that the rest of the EU and the IMF are satisfied with. There will probably be an extension on Greece's bailout exit, however many analysts are still unsure as to what type of program the new government can present that will pass scrutiny.

With mass unemployment a huge issue in Greece, further austerity is a difficult subject and the voting seen this weekend implies that the Greek public will not stand for further cuts.

The news dragged the Euro to close to an 11 year low, with many calling for a 1 to 1 parity to the dollar. The currency had lost almost 10% since the beginning of 2015 and further declines are to be expected.

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