|June 18, 2012
A slim victory for the main conservative party in an election in Greece should relax fears that a country will stop using the euro for the first time and possibly unleash global financial turmoil.
But when it comes to Greek politics - and European economic policy - it's never that easy. So the bumpy ride for financial markets isn't over yet.
The conservative New Democracy party, which supports a bailout agreement Greece agreed to earlier this year, appeared to win enough votes Sunday to form a ruling coalition with another pro-bailout party.
The result forestalled what financial analysts had most feared - a victory for Syriza, a leftist party that objects to the bailout terms. That could have sped Greece toward an exit from the euro and the world economy toward an unpredictable shock.Read More...