"Greece is probably going to be ungovernable"
- Christian Zogg, a fund manager at LLB Asset Management
Swiss stocks declined on Monday after Greek electorate turned to anti-bailout parties.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, retreated 0.27%, or 16.61 points, to 6,040.18. The broader Swiss Performance Index slid 0.09%, or 5.14 points, to 5,650.34.
"Greece is probably going to be ungovernable," said Christian Zogg, a fund manager at LLB Asset Management in Vaduz, Liechtenstein.
"If the budget cuts are withdrawn, with neither the left or right side feeling bound to the agreements of the previous government, Greece would be without financial support and would go bankrupt quite quickly. In France, a shift from consolidation to higher debt would have negative consequences for the euro."
© Dukascopy Bank