Following the Greek drama in the background this weekend. Voting closed and all exit polls shows a "No" win. However, the "shame factor" of publicly admitting voting YES could play a roll according to the experts on the official result.
Whatever the case (this vote is irrelevant for a deal as they are voting for an expired issue), the current government pretty much have everything under control to keep the drama flowing until they default to the ECB in a couple of weeks.
A "No" vote will only confirm the new deal proposal that is pretty much done and on the table since last week. Failure to reach an agreement (not expected for now) and Greece will get kicked out of the Euro by "default".
A "Yes" vote will only be important if the current government doesn't withdraw quickly without making further problems, allowing banks to be open quickly before they run out of cash and violence and anger start igniting in the streets ....
For the euro, the only result that markets wont like is panic, looting or violence in the streets if the economy and banks don't reopen very soon.... any other outcome will end with a new deal and kicking the can for at least 2 years.
Nothing to see here, expecting lots of talking heads, contradictions like usual and noise whatever the result until the official results are confirmed and especially for the Monday european opening....
Tracking 1.114x for the W open today ....
sisse
Whatever the case (this vote is irrelevant for a deal as they are voting for an expired issue), the current government pretty much have everything under control to keep the drama flowing until they default to the ECB in a couple of weeks.
A "No" vote will only confirm the new deal proposal that is pretty much done and on the table since last week. Failure to reach an agreement (not expected for now) and Greece will get kicked out of the Euro by "default".
A "Yes" vote will only be important if the current government doesn't withdraw quickly without making further problems, allowing banks to be open quickly before they run out of cash and violence and anger start igniting in the streets ....
For the euro, the only result that markets wont like is panic, looting or violence in the streets if the economy and banks don't reopen very soon.... any other outcome will end with a new deal and kicking the can for at least 2 years.
Nothing to see here, expecting lots of talking heads, contradictions like usual and noise whatever the result until the official results are confirmed and especially for the Monday european opening....
Tracking 1.114x for the W open today ....
sisse
Pending conversations? PM for a chat...I am mainly in OTM now