‘triumphs Tsipras, the euro-terror “: thus the German tabloid Bild headline online. Under the title, a picture of the likely future prime minister with his fist raised.
Analysts, however, seem to exclude hysterical reactions, a bit ‘for the parachute effect represented by quantitative easing launched Thursday by the ECB and a bit’ for the fact that – after the plan of aid conditional on austerity measures imposed by the troika (IMF, EU, ECB) – the exposure to individuals, according to data compiled by Ig Markets, fell from 59% to 17% of the total, compared with a 62% in the hands of the governments of the Eurozone , a 11% of the ECB and the IMF 10%.
In short, if not open a theme cutting debt greek – key point of the program of the movement led by Alexis Tsipras – this time, unlike that in the crisis of 2010, the problem will be primarily of governments and the European institutions and non-banks and funds. “The theme of the infection is not completely passed me was reduced,” says Lucy O’Carroll, economist at Aberdeen Asset Management.
Analysts at Axa Investment Management admit that “the uncertainties on the negotiations between the Greece and international creditors will make their victims between risky assets, “but expect an effect” marginal “on the whole eurozone. The same Tsipras said he did not have as a goal the exit from the euro and therefore will have to seek a compromise with its creditors, even not to see the bond of Athens excluded from purchases of the ECB.
The confirmation a quiet vigil comes as the performance of yields and spreads of sovereign bonds in the euro, which fell to very low levels through the umbrella of the ECB. The only exception Greek bonds, which in recent sessions have seen a reversal of the yield curve, with the three-year bonds that make more of the ten-year (9.7% vs. 8.1%), a sign that the market fears a restructuring that will hit more closer the deadline.
January 25, 2015 19:19 – Last Updated: 0:13
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