A snap presidential election — and the chances of Syriza coming into power if the government fails to win enough support to push its candidate through — are all it took to push the ASE [Greek stock index] down over 10 per cent on Tuesday.
Which makes it a 27 per cent drop for the Athens bourse this year. Only the Portuguese, Nigerian, Russian (in US dollars), and Ukrainian stock markets have done worse in 2014.
From David Keohane and Joseph Cotterill in the FT, here is more. Here is one negative scenario for those of you into Greek pessimism. Here is a more sober look at what is going on in Greece, from Open Europe blog.