Radical politics are far from dead in the eurozone.

Two years ago markets were wracked with concern that far-left (and anti-euro) party Syriza could win elections. They didn’t but they continue to build support with Greek unemployment at 26.5%.

There is no election imminent but two polls put Syriza and one puts them only slightly behind.

Until the recovery in the periphery morphs into jobs gains, the risks will remain.