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The political uncertainty in Greece and the fear that, after the general election of January 25, Athens might leave the euro, shakes markets. The so-called ‘Grexit’ reinforces the expectation that the ECB will move expeditiously towards the purchase of government bonds, putting pressure on European stocks and the euro. So yesterday was Black Monday for Marketplace and major continental exchanges. In one session the European markets have seen go up in smoke 156 billion euro of capitalization; as calculated on the decrease of 2.19% of the Stoxx 600, the index that gathers 600 companies of small, medium and large cap companies listed in 18 countries of the Old Continent.
Meanwhile, the euro falls to its lowest for 5 years and a half to $ 1.1880, sharply to below $ 1.19. And even on the yen, the European currency changed hands at least 2 months to 142.86. The weakest point of Europe is still Greece, Sunday after the German government had to refute Der Spiegel, usually well informed, according to which the Berlin government, if the left of Tsipras wins the election, it would tear the hair if Athens were to leave the euro.
Yesterday, the spokesman of Chancellor Angela Merkel reiterated that Berlin does not change position and does not want the bait Greece from the euro. Even the very clear stance of Brussels. According to the EU treaties, he said, reading the text a Commission spokesman, membership of the euro is irrevocable. While in a long radio interview, even the French president, Francois Hollande has made clear that Paris Greece must fulfill its European commitments. Hollande Merkel will meet next week to discuss the “Future of Europe”.
As for the losses in Milan, the FTSE Mib index was down 4.92%, making it appear as our stock market as the worst among all European sisters: Paris closed with -3.31%, -2.99% and Frankfurt London -2%. Disastrous day for oil, after New York crude oil prices fell to about $ 50: Eni rushes with -8.36% to 13.37 euro, Saipem closed with -4.78% to 8.26 euro, Saras -3.44% to 0.80 euro, Tenaris -5.38% to 11.76 euro. Roller coaster the bank: Mps stores the day in positive range with + 0.23% to 0.4825 euro. Evil, however, with Unicredit -6.62% to 5.075 euro, Intesa Sanpaolo with -5.95% to EUR 2,308.
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