A trader at a bank in Greece writes in and gives his take on what happens next…Well Joe, as things stand today it appears unlikely that either of the three leading parties shall be successful in obtaining a mandate to govern. There is a slim chance that some coalition may be formed during the meeting of all three parties with the President, which is scheduled to immediately take place in the event that the socialist party who will be the third and last party to try and form a coalition, fails to do so.
Since none of the major parties wishes to be held accountable for the failure to form a coalition government thus forcing a new election, there is a slight hope that under presidential pressure and arbitration, some consensus may be negotiated at the very last minute.
The most likely scenario, however, remains that a viable solution will not appear and thus new elections will be held in June. In this case, new political party alliances will undoubtedly emerge, an event which could well prove to be the necessary catalyst for a working alliance appearing after the elections. The combination of new alliances together with a likely reduction of the 37% abstention rate and the scale of the protest vote gathered this past Sunday by radical parties, are expected to result in a significantly different election result landscape, next time around.