The Other Big Vote Passes

While the US presidential elections seem to be the only vote this week that means anything to the market, there is another that if not passed would start Greece on the path of an exit from the Euro.

While the ruling coalition in Greece has fallen apart in recent weeks and a number of deputes came to power by promising to vote against Troika-imposed Austerity, the Greek Parliament just passed the Austerity package that the Troika demands before any further cash disbursements can be made to Greece.

The passing of the vote can only be seen as risk positive to a neutral event, had it not been passed, we would likely see the Euro in free-fall right now.