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Greece referendum vote
Greece referendum vote
Glenn Fairbairn
Director/Private Client Adviser
6 Jul 2015
Overnight Greece voted against further austerity demanded by creditors, leaving Europe’s leaders to determine if the country can remain in the Euro Zone.
Sixty-one percent of voters backed Prime Minister Alexis Tsipras’ rejection of further spending cuts and tax increases in an unprecedented referendum that could place Greece on the brink of financial collapse.
European leaders are now questioning whether they can negotiate with a government that has rejected their conditions for staying in the 19-member currency union, or whether they will need to be forced out.
We at Hewison Private Wealth expect markets to react negatively to this news in coming days, however this downward pressure is likely to be short lived. What investors dislike most is uncertainty.
As markets come to terms with the true impact of the possible collapse of a country whose economy is half the size of New South Wales, we should see some stability over the coming weeks..
The information provided above is general information only and individuals should seek specialised advice from a qualified financial adviser. Please contact Hewison Private Wealth for more information.
Hewison Private Wealth is a Melbourne based independent financial planning firm. Our financial advisers are highly qualified wealth managers and specialise in self managed super funds (SMSF), financial planning, retirement planning advice and investment portfolio management. If you would like to speak to a financial adviser on how you can secure your financial future please contact us 03 8548 4800, email [email protected] or visit www.hewison.com.auPlease note: The advice provided above is general information only and individuals should seek specialised advice from a qualified financial advisor. The views in this blog are those of the individual and may not represent the general opinion of the firm. Please contact Hewison Private Wealth for more information.