Market Talk - euro is vulnerable

Market Talk - euro is vulnerable
Alexis Tsipras, Greece’s prime minister, pauses ahead of a parliamentary meeting of Syriza party lawmakers in Athens, Greece. PIcture: Bloomberg

While Greece was tottering on the precipice last week, the markets remained surprisingly tranquil – but the euro is looking vulnerable

The extraordinary events of the last few weeks in Greece have, surprisingly enough, left financial markets relatively unscathed. With the exception of a few wobbles, overall there has been nowhere near the amount of panic and turmoil forecast by some commentators since the crisis broke out more than five years ago. That’s even more bizarre, given how close to exiting the euro Greece came.

The Greek government gambled, badly, that the referendum on the...

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