A Song for Europe - Greece is the word.

After last weeks excitement and celebration by the markets of the new bout of QE from the European Central Bank. This week we potentially have the hangover after the Greek election result confirmed that the Syrzia party had secured enough votes to form a government and pursue its anti austerity agenda.

This brings forward the likely difficult negotiations with the rest of the Europeans over their bailout and whether Greece will default on some or all of its debts and possibly even leave the Euro. Which to say the least will be "interesting" although the outcome at this stage seems uncertain, although there must be an outside chance of a European fudge to keep the Euro from starting to break up.

The result does however raise questions of further political upsets and pressure for change in other European countries that have struggled in recent years like Italy and Spain. Thus it seems we will probably see some more volatility, but this time to the downside as the FTSE drops back again from close to its highs that it has been trying to break since 1999.

Seems like a time for continued caution, but as ever probably best to just try and hunt for good value stocks within the volatile market which might have been left behind in the recent rally or which have been neglected. With that in mind I'll see if I have time to write some up later in the week, but given the fall in the Euro I think I also need to research and book some trips to Europe!

Meanwhile I'll leave you with the words from a Song which seems remarkably appropriate if you swap Greece for Grease,
and change a few other words you get:

Greece is the word.

I solve my problems and I see the light
We got an unemployment thing, we gotta feed children, right
There ain't no danger we can go too far
We start believing now that we can be who we are

Greece is the word

They think our debt is just a growing pain
Why don't they understand, It's just a crying shame
Their lips are lying only real is real
We stop the fight right now, we got to be what feel

Greece is the word
Is the word that you heard
It's got groove it's got meaning
Greece is the time, is the place, is the motion
Greece is the way we are feeling

We take the austerity and we throw away
Conventionality belongs to yesterday
There is a chance that we can make it so far
We start believing now but we can be who we are

Greece is the word
Is the word that you heard
It's got groove it's got meaning
Greece is the time, is the place is the motion
Greece is the way we are feeling

This is the life of illusion
Wrapped up in trouble (trouble), laced with confusion
What are we doing here?

We take the austerity and we throw away
Conventionality belongs to yesterday
There is a chance that we can make it so far
We start believing now that we can be who we are

Greece is the word
Is the word
Is the word
Is the word

Here's the original if you want to hear it - go on have a guilty pleasure you know you want to.