NEW YORK ( TheStreet) -- Of all the realistically possible outcomes of the Greek election, the worst is more uncertainty, yet not enough risk to provide central banks of the world sufficient cover for coordinated action. This is exactly what just happened.The pro-euro New Democrat came up on top, with a slight lead over the anti-euro (not really their principle, but this is what matters to the world) Syriza. The moderately pro-euro Pasok came in as a distant third. In theory, the New Democrat and Pasok could form a coalition government. But they just re-affirmed that they won't participate in the coalition unless the Syriza is included. The risk for the no-government scenario, therefore yet another election, has risen.
Greek Election: The Worst Happened
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