The sooner Greek elections held the better says Bloomberg

In a report discussing the political uncertainty in Greece after the pullout of PM Alexis Tsipras’ junior coalition partner, Bloomberg expresses the view that the sooner the Greek general election is held the better it will be for the immediate prospects of the economy, as it will allay fears and boost fragile investor confidence.

Noting the breakdown of the SYRIZA-Independent Greeks coalition and the upcoming confidence vote, the report refers to the subsequent 1.3 percent drop on the Athens Stock Exchange in early trading this morning.

“ ‘An early election is good news for investors,’ said Wolfango Piccoli, co-president of London-based consultants Teneo Intelligence. “The country has been in election campaign mode for weeks, and the sooner the elections take place the better.” Bloomberg reported.

“ ‘If anything, the exit of Kammenos helps clear some of the uncertainty of the last few days which were marred by his backpedaling,’ said Mujtaba Rahman, managing director at Eurasia Group in London,” the report added, noting that the ratification vote on the Greece-FYROM Prespa naming agreement is what triggered the coalition’s breakup.