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No guarantees about Greek election

Wednesday, August 26, 2015 - 01:27

Greece has been taking a back seat to China at the moment in terms of investors interest. That's good news in some ways but as Ciara Lee reports, concern over the political turmoil means it may not be off the agenda for long.

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Greece has called the immigrant problem in its country a crisis within a crisis. Few would argue with that and even fewer are willing to say the debt crisis is over. China may have taken the focus off Greece for the time being - but many think it is only for the time being. IG's Chris Beauchamp says the political turmoil following the Prime Minister's recent resignation is a worry. SOUNDBITE: Chris Beauchamp, Market Analyst, IG, saying (English): "I think we are all waiting for the first ever opinion polls from Greece because we haven't had one since the end of July really. What will roil global markets is if we don't get a firm result in the election. If we need to go to a second election - that will cause worries to resurface and whether the bailout deal will survive the end of the year." Alexis Tsipras is trying to crush a far-left rebellion within his Syriza party over a third bailout for Greece. His party thinks it can secure an outright majority by holding new elections. Not everyone is as confident, most analysts are predicting they'll need a coalition partner. And that might not be easy. Evangelos Meimarakis heads the New Democracy Party. (SOUNDBITE)(Greek) MAIN OPPOSITION NEW DEMOCRACY PARTY LEADER, EVANGELOS MEIMARAKIS, SAYING: "Unfortunately the country is being led down a destructive path, which, in my opinion, could be avoided." For once the battering taken by Greek stocks this week wasn't self-inflicted. But Greeks are starting to worry the election may not end the political paralysis, just as the country is supposed to be implementing tough new bailout measures.

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No guarantees about Greek election

Wednesday, August 26, 2015 - 01:27