IMF head - Christine Lagarde

As expected, Christine Lagarde has been confirmed as the new head of the IMF, the first woman to hold this senior position in global finance.

She will be resigning her position as French Finance Minister later today and will be immediately involved in the refinancing of Greek debt.

The Greek parliament will be voing on the austerity package later today and for the stability of the Euro and the Eurozone in general, it had better be accepted or Greece will not receive the bailout package from the IMF/EU and could be then considered technically bankrupt.

The Greek people have made their opposition to it very clear with long term demonstrations, strikes and powercuts, which gives no long term comfort to investors needing a stable Eurozone environment, let alone the IMF/EU officials about to pour a small fortune into their country.

The privatisation plan, that is also needed to keep the wolf from the door and raise 50 billion euros, is something that upsets the population even more, so the passing into law of the austerity plan, might satisfy markets in the short term but the feeling that they will default at some stage is very strong.

Equity markets have shrugged off the doom and gloom with healthy gains seen globally, expecting the outcome to be positive and there is talk of a Eurozone Plan B if the vote goes the wrong way.

Some would say that this is very early to be positive about the Greek situation.