Greece Is Getting Crushed Again

As if the world didn't have enough to be worried about (ISIS, Ebola, slowing China, Ukraine, Slowing Germany, Fed tightening, etc.) now look what's back: Greece.

Greece, which had been calm for awhile, is now being wracked by two separate, but related things.

One is the rise in the political popularity of left-winger Alexis Tsipras, the leader of the SYRIZA party, who if he ever got elected to power, would take a much more confrontational stance with the rest of the eurozone with regards to austerity.

Meanwhile, there's a rift growing between the current Greek government and the rest of the EU as Greece is keen to exit its bailout program. The EU is not so sure.

So now the Greek market is getting crushed. Yesterday it fell hard, and it's down another 2% today. And in general, ever since the early part of the summer it's been a major loser.

Here's the chart showing the nosedive.

And it's not just stocks.

Here's the deteriorating bond situation.