It appears that the Kingmakers caught a wave today/Sunday 17 June 2012; we will see how long they can ride it. Out of the 300 Greek parliamentary seats in question, PASOK (center left - pro EU) appears to have clinched 33, while New Democracy (center right - pro EU) has claimed ~129 and Syriza (radical left - anti EU) ~71. In France, where an arguably just as important parliamentary election took place, Monsieur Hollande has firmly taken the mantle for the pro-growth southern European faction of the GIIPS countries and earned France further maneuver room. He has done so by securing a French parliamentary majority, consisting of ~300 out of 577 seats, which provides him (Socialists - center left) breathing space from the demands of the Left Front (left - Jean Luc Melenchon - ~10 seats), the Greens (left), the UMP (right -~ 304 seats), and the National Front (hard right - granddaughter Marion Marechal Le Pen - 2 seats). The largest Kingmaker of them all, Mr. Market, is starting to wake, with the EUR-USD initially rising to 1.2748 while the Euro bond markets have yet to open.
Will the past example of Jacques Delors, a member of the Madrid Club, inspire the drafting of a work-plan at the G-20 meeting and perhaps an unveiling at the upcoming European Council meeting in the interests of democracy, openness, and transparency? The calculus at a tactical level may not yet be entirely politically beneficial, but there are arguably some economic benefits to be gained...
- Kingmaker, From Wikipedia, the free encyclopedia, http://en.wikipedia.org/wiki/Kingmaker
- Panhellenic Socialist Movement, From Wikipedia, the free encyclopedia, http://en.wikipedia.org/wiki/Panhell...alist_Movement
- New Democracy (Greece), From Wikipedia, the free encyclopedia, http://en.wikipedia.org/wiki/New_Democracy_(Greece)
- Coalition of the Radical Left, From Wikipedia, the free encyclopedia, http://en.wikipedia.org/wiki/Coaliti...e_Radical_Left
- Socialist Party (France), From Wikipedia, the free encyclopedia, http://en.wikipedia.org/wiki/Socialist_Party_(France)
- Left Front (France), From Wikipedia, the free encyclopedia, http://en.wikipedia.org/wiki/Left_Front_(France)
- The Greens (France), From Wikipedia, the free encyclopedia, http://en.wikipedia.org/wiki/The_Greens_(France)
- Union for a Popular Movement, From Wikipedia, the free encyclopedia, http://en.wikipedia.org/wiki/Union_f...pular_Movement
- National Front (France), From Wikipedia, the free encyclopedia, http://en.wikipedia.org/wiki/National_Front_(France)
- Hollande party wins majority in French parliament, 17 June 2012 Last updated at 19:37 ET, BBC News, http://www.bbc.co.uk/news/world-europe-18471239
- Konservative koennten in Griechenland Regierung bilden, Erstellt am: 17.06.2012 | 18:58, Handelszeitung, http://www.handelszeitung.ch/politik...gierung-bilden
- Hollande secures parliamentary majority, By Hugh Carnegy and Scheherazade Daneshkhu in Paris, Last updated: June 17, 2012 10:28 pm, Financial Times, www.ft.com
- Mr. Market, From Wikipedia, the free encyclopedia, http://en.wikipedia.org/wiki/Mr._Market
- Euro Gains As Pro-Bailout New Democracy Wins Greek Poll, By Keith Jenkins and Emma Charlton - Jun 17, 2012 5:30 PM MT, Bloomberg News, http://www.bloomberg.com/news/2012-0...coalition.html
- Bloomberg, Government Bonds, Germany, http://www.bloomberg.com/markets/rat...bonds/germany/
- Jacques Delors, From Wikipedia, the free encyclopedia, http://en.wikipedia.org/wiki/Jacques_Delors
- G2012 Mexico, http://www.g20.org/en
- European Council Meetings, http://www.european-council.europa.eu/council-meetings
- G-20 Plans Push for Growth, Again, Leaders to Urge Euro Zone to Turn Focus Away From Austerity in Order to Stem Turmoil's Impact on Global Economy, By Sudeep Reddy, EUROPE NEWS, June 17, 2012, 7:31 p.m. ET, WSJ, http://online.wsj.com/article/SB1000...931805944.html
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