The Greek election has been made somewhat less important by the “still under construction” Spanish bailout. The lack of a clear quid pro quo up front for Spain opens the door to renegotiations for all the other European bailouts.
Whichever party wins in Greece will have latitude to negotiate a less onerous deal. That would also make a coalition government easier - “we were all part of easing the peoples burden.”
The French elections may make Europe less functional. They will likely strengthen Hollande’s hand in reversing the Sarkozy “reforms”. He has already rolled back the retirement age to 60 from 62. The Germans are not happy.
The most important election this weekend may have nothing to do with the Eurozone - at least directly. The election in Egypt may change the face of the Middle East. The implications to Israel, Iran and Saudi Arabia are enormous. Will the most populous Arab nation become a theocracy? This will be some weekend.
http://www.zerohedge.com/news/egypt-verge-military-coup-and-martial-law-art-cashin-issues-warning
