Greek election- sigh of relief

The results of the Greek election yesterday confirm that the Greek people have decided not to go it alone and will remain in the Eurozone and adhere to the austerity contract they have signed up to. There is a view in Greece though that maybe the contract could be made less harsh to give the Greeks an opportunity to promote growth, though how that will work is not clear and currently has zero support from Germany.

The New Democracy party, lead by Antonis Samaras, will be the largest party in the Greek parliament but will need to form a working coalition with other parties also pro austerity and pro Eurozone membership.

With one less uncertainty to worry about, Equity markets are expected to open higher Monday morning .