Greek polls soothe euro exit fears

Now Reading:

Greek polls soothe euro exit fears

Text size Aa Aa

Six new opinion polls all hand Greece’s pro-bailout parties victory in next month’s general election.

The results from those voter surveys reassured investors worried about a possible Greek exit if anti-austerity leftists Syriza finish first.

Europe’s stock markets were up in early trading on Monday, whilst the euro also rebounded. But share prices slipped later in the day with investors refocusing on problems surrounding Spain’s banks.

Antonis Samaras, the leader of Greece’s centre-right New Democracy party, warned of a deep depression if Athens fails to honour its commitments.

“If Greece condemns the bailout agreement, it will remain isolated internationally for many years,” he told supporters. “It will be exploited by many from every direction. There will be no food, no medicines or petrol, at night we will live in a continuous blackout.”

International Monetary Fund Managing Director Christine Lagarde sparked an outcry over the weekend when she said in a newspaper interview that too many Greeks dodged taxes.

She told Britain’s Guardian daily that she was more worried about starving children in Africa then austerity-hit Greeks.

The former French finance minister later clarified her remarks, insisting that she had meant to say that the most privileged should take a fairer share of the burden in terms of paying their taxes.