If Samaras fails to secure victory in parliament for his presidential candidate, snap national elections will be called that the leftist Syriza party - a fierce opponent of Greece's bailout deal with the European Union and IMF - is likely to win.The Dow Jones Greece Stock Index is in a bear market, the National Bank of Greece is still distressed, and Greek sovereign credit risk is rising again.
The Greek 10-year bond yield is rising again on the political uncertainty, but it's still way below the 2011/2012 crisis levels.
According to S&P Capital IQ's CDS Market Flash this morning, Greece 2014 CDS widened 100 basis points and Greece ISDA 2003 CDS widened 50 basis points yesterday. Greece's credit default swap spreads have been widening since September.
|Source: S&P Capital IQ|