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Stocks Slow After Greek Vote – But Could Have Been Worse

ATHENS-With a collective sigh of ‘at least that’s over with,’ the party committed to the Euro Zone holds power after Sunday elections – but there’s still worries on Spain, Italy, Ireland, etc.

By Robert Carr | Updated on June 18, 2012

ATHENS-Stocks are mixed today – but could have been worse – as Greece saw a narrow victory for the party that wants to implement the European bailout conditions for the country. At noon the Dow Jones was down slightly, and experts today say the market will likely see-saw back and forth as investors keep an eye on Greece, Spain, Italy and Ireland to see whether billions of dollars in bailout money for governments and banks will ease the current Euro Zone crisis.

There was even talk that Greece could pull out of the Euro currency, a fear that may not hold weight now that the New Democracy party, led by Antonis Samaras, won Sunday’s election. Samaras said the country will meet the conditions of a second $173 billion bailout promised in the first quarter by the Euro Zone to protect Greece from total bankruptcy. However, he also said that he’s going to try to amend the conditions to ease austerity measures that have caused widespread job loss and recession. More fires, set in protest, raged through the election, matching violence in February.

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