Anti-austerity party wins Greece general election
Constantine Venizelos
Press TV, Athens
Earlier in the day, Tsipras cast his vote in a polling station jam-packed with domestic and global media. It was followed by a statement that creates havoc as news crews step over one another to capture the moment.
Greece’s bailout program ends on February 28th and SYRIZA will need to juggle seeking concessions on the country’s shocking 329 billion euro debt while pledging to void the 4-year austerity policy that has been funding the private banking network instead of the national economy. The outlook of a change in economic policies has been welcomed by some groups
The desired electoral result pumps the celebrating crowds yet Greece might need to borrow 22 billion euros over the next two years to balance the books, if austerity-based loans are cancelled either by the all-new SYRIZA government or the European Central Bank.
The SYRIZA win marks a turning point in European politics, but also signals the start of a complex negotiation with the country’s lenders. While SYRIZA faces the likely peril of having nowhere to borrow from, it is monumental that austerity policies are for the first time ever threatened as much as Greek economy and the Euro currency.
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