Wolfango Piccoli

The government is expected to survive a no-confidence vote on Thursday, pushed forward by opposition parties, but pressure is growing over the Tempe train crash.

Wolfango Piccoli, co-founder of risk analysis company Teneo, joins Thanos Davelis to discuss the market reaction to the Greek elections, the message the election results sent to investors, the reforms that a new government in Greece will need to focus on, and more.

Greek stocks and government bonds rallied sharply on Monday, cheering the ruling New Democracy party's election showing.

Prime Minister Kyriakos Mitsotakis' party fell just short of a majority in Sunday's vote, making a second election likely.

According to Wolfango Piccoli, co-president at financial advisory firm Teneo, Sunday's election result had a "devastating" impact on the SYRIZA leftist opposition, while leaving New Democracy in a dominant position with limited scrutiny.

"It is a devastating outcome for the opposition, especially for SYRIZA," Piccoli told news website Politico.

Estimates pointing to a deep recession in Greece this year and a steep rise in the national debt as a result of measures to contain the coronavirus pandemic are generating questions about what will happen once the crisis subsides and raising new debt sustainability concerns. Economists asked by Kathimerini stress that Greece is armed with weapons it did not have before.

"The sanctions of Turkey are coming," Teneo Intelligence's director of research, Wolfango Piccoli, told Bloomberg television on Wednesday after the agency reported that Washington is mulling strict measures against the country if it persists with plans to purchase a Russian missile defense system despite American objections.

Turkey's long road to economic reform may have grown bumpier this week when authorities ordered a re-run of an Istanbul city election, further testing the patience of investors seeking a break with policies that triggered last year's currency crisis.

The public fallout between Canadian mining company Eldorado Gold and the Greek government after the prior’s announcement on Monday it would suspend its large investment in the north of the country due to the government’s delays in issuing routine permits has put the leftist-led SYRIZA government at the centre of a storm of media attention, bringing up questions about whether it honestly promote

Turkey’s President Recep Tayyip Erdogan on Sunday took back control of the ruling party he founded, a step that gives the nation’s most powerful man additional authority to appoint loyalists to parliament lists and party posts across the nation.

So far this year more than 170 bodies have washed up on the shores of the Mediterranean while the Libyan Coast Guard has also rescued thousands more.

IOM has helped repatriate 1,500 people back to West Africa so far this year where it is trying to inform people not to risk the journey to Libya where they face exploitation.