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FBN’s Ashley Webster with the latest from Greece after the election, and its impact on the U.S. markets.
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-- Athens were asked to reps are standing by the very latest actually this election was kind of almost like a big buzz up our markets here at home.
-- -- walls because okay Greece gets done what it needed to get done but hello what about Spain -- huge economy bigger than Greece and Ireland deportable left Portugal combined -- there is a lot of -- political wrangling going on in Athens tonight as they try to come up with a coalition government.
That is being done by Conservative Party leader and -- -- -- of course won the election yesterday.
Then Greece will try to renegotiate.
The U bailout deal that it did within its.
International lenders whether the EU will go with that well we'll have to latency Germany doesn't seem particularly thrilled.
But earlier today I spoke with the countries -- economic deputy minister who told me.
The great people cannot endure much -- financial hardships.
Listen half the shops are -- that are remaining shops are closing the one after the other people have seen their incomes slashed.
30%.
Plus pensioners have seen their incomes and their pensions last 30% plus if you have the same thing.
In the US of AU without a revolt of the people if you have the same thing in Germany or England people will have revolted and -- here in Athens and things aren't so.
Rising believe this.
All this will have had a very overall deal.
We've been asked school they got reforms that in other companies would have taken a decade.
And to squeeze them out within a year or two we don't want a free ride on -- we want to pay our debts and want to be very good European citizens.
But we just need a break guy about -- we cannot have an economy that's being slashed.
5% this year after year and now the latest showings are 46 and a half percent decline in economic activity in the last quarter.
This is what this sort of thing than one we'll be.
Glad or thankful above we -- we need to fix things but we need to also look -- the pace of things.
There are economists who say the Greece and the -- -- -- pay back the money that's being given to him.
Yes I AM one of those who think even there remaining debt is too high.
For us to serve why because our economy is collapsing when it's not a functional economy at this point.
But something people associated that would exit being from the Euro.
No one has nothing to do would rather.
Whether Texas can repay all -- that's it doesn't mean is gonna chains of the dollar and go to a special.
Or something so we need to sit down with our partners look at their repayment schedule all of our debt.
Look at the economic potential of the Greek economy.
Sit down fixed and sort out some things but definitely within the bones of the Euro.
The discussion the has been made.
Internationally about Greece.
Exiting the Euro has been completely destructive.
For our economy.
There's not a penny there's not a cent coming in the country and people who have minimal savings want to -- -- -- because they're afraid of that -- So I think our European partners should make it very loud and clear.
There is no such thing over Greece -- the Euro.
Because that we'll start attracting investments and -- realizing psychology.
Well I think that kind of lays it out very well indeed an existing analogy how do you like it -- Texas dump the sort of went to the peso can you imagine.
Coming up in the later on in the show Tracy will be out talking to a 25 year old woman hearing -- he has a professional degree.
Simply cannot find a job.
Very worried about a future and is now looking to move to possibly Canada Australia what -- story coming up in just a little while back to you.
As degrading and you only see asked in a little bit there and of course.
