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All right now for more on the European market Cisco live to London we're joined by AI -- Randolph head of sovereign risk for IHS global -- good morning to you beyond -- look we saw some gains early on but they seem to be fading what's bringing the markets down in.
Europe the -- and and.
Well -- probably went up a little because -- and talk about Michael moving on the Europe -- decision.
She was basically.
Isolated to the European level and also the job and opposition.
It's not expecting -- as you might -- -- -- but I think that's small compared to the Big Easy which is Greece.
There's no visibility -- off to the Greek elections on June 17 and basically markets are hunkering down.
In judgment that -- the -- opposition all extreme cordon until this greater visibility.
And young we -- we hear from the EU leaders who -- say to to a person that yes of course we want Greece to remain in the eurozone but there.
You have to imagine a behind closed schools they are all making contingency plans for that very event.
Yes I think that was the summit.
While talking about growth issues in Europe bonds -- -- are discussing preparing contingency plans like is the right and sensible thing to do.
Because that is still a possibility.
On the current putting it in Greece and -- rather complex like the language itself -- but it is.
Are we have a situation that's the -- in the lead but it's unlikely to form a coalition.
And my gut feeling is that you'll still gets a coalition all of new democracy -- apostle who -- -- bailout.
But it's still on the -- pounding the likely outcome.
But all we just delaying the inevitable because the chances of Greece may have to pay back -- is bailout money is.
You know pretty close to -- would you agree.
That's it it is very difficult for -- -- Colson.
It is quite likely I think more than likely they will have another debt rescheduling in the but -- -- it it will be within the euros.
It's facing the reality that this is an economy still on its knees.
And will -- more years of structural form of what is getting a grip on its budget.
And they will have to lighten -- -- -- slowed put them to be able to close up budget deficit within reasonable -- I'm not does meet a debt restructuring but I think on -- they would still remain in the eurozone.
All right we're out of time already on Randolph head of sovereign risk IH is a global insight young thank you for.
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