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‘Real News From The Blaze’: Can Greece Election Result Turn Around the Euro Crisis?

The European Union coalition as it is now will live fight another election.

After inconclusive elections in May, Greeks went to the polls again this weekend for a vote that was seen by many observers as a referendum on the nation’s participation in the European Union. Appearing to be an affirmation of Greece’s desire to remain part of the euro zone, the center-right New Democracy party secured the most votes Sunday just ahead of the radical left SYRIZA party. As New Democracy works to form a a coalition this week, concerns grow as EU economic leader Germany had made it clear that they will not grant extensions regarding the terms of the Greek bailout nor will they be overly flexible about Greek meeting the benchmarks. Reuters reports:

However, a Berlin government spokesman made clear there was no question on going back on key economic reforms to slim down the public payroll, close loss-making public enterprises, privatise state assets and crack down on fraud and tax evasion.

“Now is not the time for any kind of ”discounts” to Greece,” deputy government spokesman Georg Streiter told a news briefing.

This hardline stance may come in conflict with Greek parties who have campaigned all in favor of the bailout but each with their own terms for accepting it. Furthermore, New Democracy has only a short amount of time to find a coalition among Greek parties, before then renegotiating with Germany.

Will the Greek election be a turning point or only the eye of the storm for those hoping to turn around the euro zone?  Many fear that less than ideal market activity Monday may show that the election will not calm fears about the region’s financial stability. The “Real News” panel was joined Monday by Ian Murray to discussed if this is all just a repetitive exercise which will eventually end in the slow decline of this financial union, and whether the election is really a reflection of the Greek people’s desire to do what is necessary to remain in the EU:

Comments (11)

  • dmerwin
    Posted on June 19, 2012 at 8:31pm

    “Can Greece Election Result Turn Around the Euro Crisis?” In a word. No.

    Report Post » dmerwin  
  • Guitar Master
    Posted on June 19, 2012 at 1:01pm

    zzzzzzzzzzzzzzzzzzzzzzzzzzzz
    From THE REPORTER
    zzzzzzzzzzzzzzzzzzzzzzzzzzzz

    Can anyone be certain that Buck Sexton isn‘t Paul McCartney’s son?

    Report Post »  
  • lqtm
    Posted on June 19, 2012 at 9:53am

    Can’t stop laughing at “Real News” bahaahaaaa. What a joke.

    Report Post »  
    • leonardo44
      Posted on June 19, 2012 at 11:37am

      The only joke around here is you LQTM. If you actually watched the show you would know how good it is. Thanks Glenn for your vision and perseverence to pursue truth. The Blaze/GBTV is a breath a fresh air compared to the toxic mainstream media.
      Real News does a great job covering the top stories, keep it up.

      Report Post »  
    • AvengerK
      Posted on June 19, 2012 at 1:06pm

      It’s not a matter of if Greece leaves the Euro..it’s a matter of when. Spain and Portugal will be right behind Greece with Italy waiting it’s turn. The “new democracy” party in Greece that “won” Sunday’s election is already saying it will seek to change the terms of the bailouts. Apparently beggars want to be choosers. Greece still believes it‘s in a position to dictate terms while it’s an economic basket case. THAT’s how delusional the Europeans are about the EU.

      Report Post »  
    • FuturePresident
      Posted on June 29, 2012 at 11:32am

      To be honest the blaze is making me laugh more and more often. Its kinda dumb to think a countries election in the EU makes a difference at all. If anything I feel bad for Greece cause they are getting screwed over in my opinion. The reason there is such instability is because the EU is all being run by unelected officials. And kinda of like how our states dont have power anymore, it is the same with the countries in the EU. We all know America would love to get a handout these days, we do it all the time, its called printing money, but the current govt. would rather spend spend spend until the day we go bankrupt then really try to fix anything. Welcome to the N.W.O. everyone. You think this is America? We lost our republic long before any of us were around.

      Report Post » FuturePresident  
  • HowardSternIsABigot
    Posted on June 19, 2012 at 7:18am

    Wait till the geeks realize what austerity means. They were lied to by the IMF/EU about how they will only survive if they keep dancing to satans fiddlers. how they will be worse off without the huge unpayable debt load. why arent the bankers that made the unpayable loans being fired? because their bonuses are too huge ? The time bomb is ticking, its like putting a towel over a dogs head, its an IQ test to seee how long it takes them to pull it off.

    Report Post »  
  • lukerw
    Posted on June 19, 2012 at 2:12am

    Now the Battle begins: The Greeks want to “adjust” the BailOut Conditions… and the Germans say NEIN!

    Report Post » lukerw  
  • SilentReader
    Posted on June 18, 2012 at 11:39pm

    The answer is, of course not! It just kicks the can down the road!

    Report Post » SilentReader  
    • co2dog
      Posted on June 19, 2012 at 1:29am

      Greece will be a bit player in the drama since France has gone socialist.

      Report Post »  
    • lukerw
      Posted on June 19, 2012 at 6:32am

      Spain seems to be in worse shape… their offered BailOut is 100 Million… but they need 400 Million!

      Report Post » lukerw  

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