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“Even if it proves slightly more risk positive, I suspect it will be very short lived given the uncertainties over the withheld troika payment from May. Any recovery in prices is an opportunity to reduce risk further” Simon Derrick, the chief currency strategist at Bank of New York Mellon told CNBC.com following the election result.
The troika refers to the three institutions that govern the administration of bailout funds— European Central Bank, the International Monetary Fund, and the European Commission. ( A Primer on the Greek Elections ).
Paul Donovan, the deputy head of global economics at UBS says nothing much has changed following the result.
“I think it leaves us as we were, with considerable uncertainty,” Donovan told CNBC.com
“Negotiations for coalition, then negotiations for the bailout adjustment. Random political comments will still impact the markets and I would expect a degree of volatility to persist,” said Donovan
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