Morgan Stanley: Greek Elections May Have Caused Permanent Damage To The Euro

“Morgan Stanley senior European economist Daniele Antonucci writes in a note today that while the results of Sunday’s Greek election may provide temporary relief, internal politics will weigh on external politics in Greece over the medium term.

The close race between the “pro-EU” and the “anti-bailout” parties showed that Greek voters are both afraid of the economic consequences of a Greek exit from the euro, and opposed to the crushing austerity measures that comprise the terms of the current Greek rescue plan.”

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