The issue is whether the resulting government will be able to effectively implement the bail-out agreement or, worse yet, whether this election settlesanything or another election lies ahead.
"It probably continues to remain valid to argue that Greece's significance to contagion risk across Europe is not what it was a few years ago thanks to ECB policy actions and the risk of further action to come", says Scotia Bank.
One should remain cognizant of the risk of a Greek exit and whether it's correct to argue that markets would treat it as a special case and not get fussed over the precedent.