You're watching...
FBN’s Ashley Webster breaks down the election results and Greece’s future in the EU.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Too fast breaking stories tonight both of which have a huge impact of the markets and your money.
Greece and the G-20 summit in Mexico first the markets breathing a sigh of relief tonight after a critical election in Greece.
The latest results show the conservative new Democracy Party winning the majority of the seats there.
Now that's good news for the future of zero and a very positive sign for the markets right now Asian markets are rallying on that news out of Greece and here at home.
Wall Street is expected to open higher as well.
S&P 500 futures trading up watching all of this the group yeah.
Most powerful nations are getting together in Mexico figuring out how to respond to the ongoing crisis in Europe.
And the global economy.
President Obama is expected to arrive in -- -- cop -- Mexico this evening will be heading there live to Mexico with a little preview later on.
We have a complete coverage tonight from all angles the markets.
The economic the political fallout -- which there is a lot but we begin tonight in Greece with Fox Business -- Ashley Webster.
Where it's been a very long night actually.
The conservative new democracy leader said the election was a choice between Greece staying in the Euro.
Or going back to the drachma it looks -- whole lot better for the future of the Euro tonight.
Well I don't -- I'd say that Jerry but suddenly the Euro -- I think dodged a bullet tonight but let's not forget.
Greece valves to renegotiate the terms of its bailout.
Even though Germany has clearly stated it will not reconsider the coal reforms.
Even though -- says there's too much pain and suffering the austerity is too much.
But -- leader of the victorious new Democracy Party said the election result tonight is a mandate for a -- -- Euro -- The Greek people.
Express their win.
To stay -- -- -- the Euro.
Remain.
An integral parts of the Euro zone.
On aren't the -- -- commitments.
And Foster growth.
This is a victory.
For -- Europe.
But there are still many cracks in the foundation as they say the Euro zone and the seventeen separate countries that use the single currencies still have many many.
Challenges ahead the talk of fiscal union perhaps the only solution.
As the Euro zone debt crises is a long way from being sold and -- -- the concern from Greece's point to fuel the concerned about Greece's problem -- -- could spread as a contagion a ripple effect across the week up.
Other economies of the eurozone more specifically Spain and Italy huge economies that really could threaten to bring this whole.
Experiment -- -- -- -- -- crumbled ruins but so far.
The leadership from Berlin -- Brussels has maintained that the eurozone can stay together Jerry but.
Certainly dodging a bullet tonight.
But as I say there are still many many unanswered questions.
Well I actually all we have right now is a coalition government -- are you confident that we're not going to be voting all over again and another thirty day it's.
Well that's a good question we don't even have a coalition government right now that's going on right now a lot of phone calls a lot of meetings -- -- conservative new Democracy Party the speculation is wolf.
Pair up with -- post -- party a Socialist Party or maybe a few other smaller parties to gain enough seats to.
Former majority and then move forward but you know BS the recent -- the radical left party is still very powerful.
And they say -- have nothing to do with this new coalition government -- -- have to wait and see how -- this.
Plays out I do not think will be back here in a month's time.
This country cannot take another another day without a government in place I don't think the Euro -- can either.
Well actually been doing great work for us out there thanks so much stand by we'll check back in with you in just a --
