The Greek Socialist party(PASOK) has won a landslide election giving it a comfortable majority in Parliament to tackle reforms immediately.Greece is seen as the riskiest bet in the euro zone, with its deficit seen at 6% of GDP, well above the 3% EU limit. The win is seen as a positive sign for the EU as we await to see his budget draft years to be submitted to Brussels for the next three years of office.
Traders say the knee-jerk move higher in the EURUSD this morning was in part to do with the win.
