The good, the bad and the euro

Just as the news coming from Athens augured a little better for the future of the eurozone, the word from Madrid plunged the future of the embattled currency back into doubt.

Polls showed that New Democracy, the centre right party that has pledged to continue the bailout programme, was on track to win a majority in the Greek general election on June 17.

Even if this did not resolve the deep issues surrounding Greece’s euro membership , it should give other countries extra time to cope with the massive fallout of a Grexit as predicted to occur at sometime during the next two years. Spain’s deputy Prime Minister, Soraya Saenz de Santamaria, was in no doubt that her country’s growing crisis could well spell the end for the currency and the EU.