Greek and Cypriot Stock Markets Imploding this Morning

by John Galt
May 7, 2012 05:25 ET

 

With the election results indicating a shift of Greek public sentiment away from austerity and their Euro masters, the investing public (aka banksters) are getting the hell out of dodge. The Athens stock market opened up down 8% but has stabilized at just over 6% down at this time:

 

While that might seem ugly, the nation of Cyprus, whose fortunes are tied to the nation of Greece in more ways than economics but as a bulwark against Turkish aggression has experienced a 90% plus decline in its equity markets since the market’s euphoric peaks in the middle of the last decade. This morning’s reaction to the Greek elections is nothing short of stunning with an almost 10% decline at the open:

(Charts via Bloomberg.com)

 

The key issue to remember is that this is just the beginning of a market reaction to yesterday’s stunning election events worldwide. When the policies against their Euro masters are implemented, instability in both the economic and regional political realm will rock world economies and stock markets even further.

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