What do the European elections mean for the Euro?
People, it's another beard vs. beard situation as Lebron takes the pessimistic view while PK says the results may be good news for the Euro.
The bottom line is that electorates in the PIGS (so far Ireland is resolute in taking its medicine) are unwilling to tolerate the Troika policies. Their only unilateral alternative is to exit the Euro, and they all seem unwilling to take this step.
So, I guess the "optimistic"view is that these results scare Germany enough to get them to pay more for their southern neighbors and to throw their weight behind the ECB significantly raising the Eurozone inflation rate.