We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • OPEC reportedly moves up oil production meeting to June 4 #OOTT
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.69%, while traders in US 500 are at opposite extremes with 75.44%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/uuUtwe3YrJ
  • Technical Trade Levels: #Dollar, $EURUSD, $USDCAD, $AUDUSD, #Gold, #SPX and more! (Webinar Archive) - https://t.co/3UevjO8Lil
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 2.04% Gold: 0.55% Oil - US Crude: -1.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/5jVWooiTee
  • GBP/USD IG Client Sentiment: Our data shows traders are now net-short GBP/USD for the first time since May 06, 2020 when GBP/USD traded near 1.23. A contrarian view of crowd sentiment points to GBP/USD strength. https://www.dailyfx.com/sentiment https://t.co/wyWpKN83H2
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.79% 🇨🇦CAD: 1.33% 🇳🇿NZD: 1.31% 🇪🇺EUR: 0.20% 🇯🇵JPY: 0.19% 🇨🇭CHF: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/q2qAPkPXZi
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: US 500: 0.29% Wall Street: 0.27% Germany 30: 0.08% FTSE 100: -0.00% France 40: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vHF9F2qb4Z
  • Happy Monday traders! What does the new month bring? Are we looking at positive sentiment but not much momentum❔ What are the market highlights heading into New York open? Find out from @DailyFX Chief Strategist, @JohnKicklighter 👇 https://t.co/xaHZXjZdZr
  • US Treasury Secretary Steven Mnuchin to hold call with G-7 finance ministers on Wednesday per his public schedule $DXY
  • Overlay that with google search terms for “protest” and “riots” and you see a similar uptick. Last time we saw a surge in these search terms was back in August 2019 and we saw a lot of volatility ensue shortly after. https://t.co/ZXAkgRWfAB
Guest Commentary: Greek Far Right Goes Very Far - Just a Phase, or Danger to Democracy?

Guest Commentary: Greek Far Right Goes Very Far - Just a Phase, or Danger to Democracy?

2012-10-27 22:00:00
Yohay Elam, ForexCrunch,
Share:

The neo-Nazi Golden Dawn party in Greece is gaining traction and gaining confidence. Recent opinion polls gave the party 14% of potential votes, coming third.

The party is also pushing the limits with its Nazi gestures: the party's logo has resemblance to the swastika, and now the leader of the party Nikos Michalolioakos gave the Nazi salute in a youth rally.

The gesture that reminds global citizens of the horrible days of World War II and the Holocaust. It also raised controversy and disgust in Greece, but the leader of the party said this gesture comes to show that their "hands are clean".

It's important to note that Greece is one of the countries that suffered most form the Nazi occupation in World War II, and that the current president of Greece, Karolos Papoulias, fought in the resistance movement against the German occupation, and was probably disgusted to meet the Golden Dawn officials in the post-election coalition talks.

This extreme party does not seem marginal anymore. In addition to entering parliament and gaining traction in the polls, there are allegations that the police has collaborated with the party. A group of 15 activists said they have been beaten and physically abused. And:

"Policemen also took photos of them and said they would have given them, together with their addresses, to Golden Dawn for reprisals."

A coalition of mainstream parties controls Greece now: with the center right New Democracy's leader Antonis Samaras as PM and two moderate left wing parties as junior partners. Mainstream parties lost a lot of ground to extreme left and extreme right parties in two rounds of elections in 2012.

This political process hasn't stopped, but rather strengthened since then, hand in hand with the worsening economic conditions in the country: unemployment crossed the 25% line. Under such conditions, many look for solutions at the extreme ends.

Is this a temporary phase that will pass once conditions improve? Or is Greek democracy in danger?

Further reading: Nationalistic Parties win in Spain's Basque Country

By Yohay Elam, ForexCrunch

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to research@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.