Greece - Alexis Tsipras’ Referendum Miscalculation Serves Stocks This Week

Greece’s Prime Minister Alexis Tsipras has made a critical miscalculation by waiting until the midnight hour to ask his people for a referendum vote on austerity. Filled with fear and panic at this point, with access to their bank savings cut off and with many other horror stories being foretold to them by opposing party politicians, I find it hard to believe a majority of Greeks will vote “No” to life-saving capital as Tsipras wishes. As a result, I expect global markets to rise on Monday on an expectation that either this Greek government or a newly formed one will agree to what is on the table with Greece’s creditors. See more on Greece's Tsipras and his big mistake. 

European Sector Security	YTD	TTM
iShares Europe (NYSE: IEV)	+5.4%	-8.5%
Vanguard FTSE Europe (NYSE: VGK)	+6.3%	-7.9%
WisdomTree Europe Hedged Equity (NYSE: HEDJ)	+12.7%	+10.6%
Global X FTSE Greece 20 (NYSE: GREK)	-21.0%	-53.3%
iShares MSCI Germany (NYSE: EWG)	+4.0%	-10.0%
iShares MSCI Spain (NYSE: EWP)	-1.6%	-18.9%
iShares MSCI Italy (NYSE: EWI)	+11.9%	-13.6%

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