The European election result was interesting in that the centre right and centre left parties obtained more than half of the vote, but all of the momentum was...

The European election result was interesting in that the centre right and centre left parties obtained more than half of the vote, but all of the momentum was with the anti-Europe and anti-austerity parties. The markets' reaction here should be reasonably muted as new members voice their concerns and demands, but they have no real legislative power. If there is one region which aims to listen and please everyone it is Europe and it may be the case that the election results encourage governments to scale back the austerity drive and focus on growth. The big problem could be in Greece. With the anti-austerity Syriza party winning the election there were demands for fresh Parliamentary elections to resolve the legislative deadlock. Were this to occur fears of the Grexit could resurface. One thing is for sure - Europe will continue to be a source of global instability and volatility. (VIEW LINK)