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Greece votes, keeps Nazis, kicks problems down the road again

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Despite the excitement of electing a new government yesterday, Greece is no closer to resolving the financial problems than they were the day before. The anti-bailout parties won many seats, but they eventually lost to the pro-bailout forces.

Once again the mainstream voices are talking about renegotiating the bailout terms, as if we haven't been there before. Many of the EU powers have been dreaming of this day so that all of the problems could be postponed to another day. The financial markets are also celebrating as this means the big financials will get an extension to the free ride granted by Merkel and company. Hooray!

Much like the election results in Egypt yesterday, one result was determined but many more questions were opened up during the process. Greece now has a new government that is eager to work with the powers of the EU to make minor changes to the bailout terms, but the fundamental problems will remain unsolved for another day.

In addition, the new coalition in Greece will be stressed from the start as it consists of the center-right New Democracy and their chief rival for decades, the socialist party PASOK. More on the new partnership at CNBC.

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