The fragmentation of the Greek political scene was a predictable consequence of an economic depression voters rightly blamed on the political establishment.

CNN: Opinion: Greeks prefer Europe to its own politicians

If prices for emissions credits are volatile and companies and consumers incur losses as a consequence, political support for the program will falter.

WSJ: The Experts: Should There Be a Price on Carbon Emissions?

Econometric analysis indicates that the effects of political uncertainty may be overstated, and that the weak economic situation is one of the causes, and not the consequence, of political gridlock, according to Goldman.

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