[5]While there is still some debate whether the proper alternative nomenclature of the Greek ultranationalist party Golden Dawn is "neo-nazi", there is no debate that the party, which is a manifestation of every broken Greek hope and dream, after posting a shocking result in the recent Greek parliamentary election which saw it coming in fifth and entering parliament after, continues to soar in popularity and is now the third most popular party in Greece with 12% of the vote. Above it are only two other parties: the conservative New Democracy which won the June elections with 29.6% of the vote, which is now down to 28%, and on top, in an ominous development for EUR-bulls, is the anti-bailout and anti-memorandum leftist coalition Syriza, which has threatened to end the bailout, and effectively to take Greece out of the Eurozone, setting off the much dreaded dominoes.
From the WSJ [6]:
Greece's anti-bailout leftist Syriza party would win if elections were held today, while ultranationalists Golden Dawn would become the third-largest party in parliament, a poll showed Friday.
According to a survey prepared by VPRC polling agency and published in Ellada Avrio newspaper, the opposition Syriza party would garner 30% of the vote, while conservatives New Democracy--who lead the coalition government--got 28% of the support.
New Democracy is the major partner in Greece's coalition government together with two center-left junior partners, the Socialist Pasok and smaller Democratic Left parties. The conservative party won Greece's mid-June elections after getting 29.6% of the ballots leading the radical-left Syriza party by three percentage points.
The ultraright, nationalist Golden Dawn, which was elected to the parliament for the first time during the last elections, would receive 12% of ballots and move up from being the fifth-largest party.
Backing for the two junior-coalition partners dropped further. Socialists Pasok are supported by 7.5% of respondents, among the lowest levels seen by the party since being established in 1974. Greece's small Democratic Left party saw its popularity drop to 4%, versus 6.3% at the latest national polls.
The survey conducted Sep. 4-5 with 1,000 respondents, found that 76% of Greeks believe the country is heading in the wrong direction, while 86% aren't satisfied with the coalition government's performance.
And while unpolled, we are confident that the question of whether Greece should remain in the Euro, paradoxically the cause, and solution to all of Greece's problems depending on who's talking, would have received the support of the vast majority. Because "only in Europe."
But most importantly: keep track of the rise of the ultranationalists, not only in Greece, but everywhere else. Because for Europe, that development, too, is a case of very distinct deja vu.