Greece Heads to the Polls (Again): Why It Matters

You used to have to wait at least a couple of years for a big Greek vote. But this year three have come along.

With the latest general election results due on Sunday, and polls suggesting a tight race to govern the struggling euro zone economy, CNBC looks at why this could be an important vote for the country – and the single currency.

Arguably at this stage whoever governs is a moot point, as long as they are prepared to fit in with what the country’s international creditors want.

So far, the elections have barely caused a ripple in markets, as left-wing Syriza’s previously anti-austerity stance appears to have been neutered by leader Alexis Tsipras’s climbdown in the summer. Plus polls suggest either Syriza, or the more establishment New Democracy, will be the lead partner in a pro-bailout coalition.

The latest poll from the University of Macedonia shows New Democracy on 30 percent of the vote, Syriza with 29.5 percent, ultra-right wing Golden Dawn on 5.5 percent, Pasok, which has seen its vote share almost wiped out by Syriza, at 5 percent, centrist Potami at 5 percent and Syriza breakaway group Popular Unity at 3 percent.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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