(VOVworld)-Alexis Tsipras, leader of Greece’s Syriza anti-austerity party, was sworn in as Prime Minister after his party won the early Parliamentary election on January 25th. This was the first time since World War II that a far-left party has become the ruling party in Greece. In contrast to the people’s joy in Greece, many EU countries are not very happy with the election result because Syriza is an anti-austerity party.
Alexis Tsipras, leader of Greece’s Syriza anti-austerity party, was sworn in as Prime Minister after his party won the early Parliamentary election on January 25th
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The official election result announced by the Greek Interior Ministry confirmed the Syriza party’s victory with 36.37% of the votes, securing 149 out of 300 seats in the Greek Parliament. The result overwhelmed the New Democracy Party of ex-Prime Minister Antonis Samara which won only 76 seats. The Golden Dawn and Potami parties won 17 seats each and the Greek Communist Party (KKE) finished 5th with 15 seats.
Campaign platform met voters’ aspirations
Syriza’s victory was not a surprise. Recent polls showed it has won broader support than the other parties. Syriza’s campaign platform harnessed Greek voters’ wish to get rid of austerity, halt salary and public spending cuts, and fight corruption. That is what Greeks want after being exhausted by austerity over the past five years. The Greek economy has improved but one quarter of all Greeks remain unemployed and many are destitute. That’s why Greek voters are no longer interested in international aid packages.
In his swearing-in speech in Athens on Monday, Tsipras promised to work hard for the best interests of the Greek people. After its victory was confirmed, the Syriza leader announced that Greece will leave behind disastrous austerity Greece implemented over the past five years at the request of international lenders in exchange for aid packages. Greece will implement a new plan to reform, invest in and restore the economy. Syriza also announced an end to cooperation programs with the Eurozone Finance Ministers’ Group (Eurogroup).
Europe is worried
In their congratulatory messages to the Syriza Party, leaders of many EU countries asked Greece to continue austerity. German Chancellor Angela Merkel expressed her hope that the new government will continue Greek commitments to international lenders. She said Berlin wants to cooperate with the new Greek government. Finnish Prime Minister Alexander Stubb said he opposes a proposal to write off part of Greece’s debts but emphasized that Helsinki is ready to discuss a debt extension. Tsipras left open Greece’s membership in the Eurozone but asked the EU to reduce the debts and renegotiate terms of the 240-billion-euro bailout that Greece borrowed from the International Monetary Fund, the European Central Bank and the European Union since 2010. Otherwise, Greece will go bankrupt and be forced to leave the Eurozone. This would be a challenge for Syriza and the 3 lenders who have no intention of concession. Benoit Coeure, an Executive Board Member of the European Central Bank says: “Tsipras must pay, those are the rules of the game, and there is no room for unilateral behavior in Europe”.
Following the victory of Syriza, the euro fell sharply to 1.1112 euro against the USD, the lowest rate in 11 years. On the gold transaction floor, the gold price in Asia rose to the highest level in 5 months due to worry about the instability in Europe.
The Greek election result has also caused fear of political instability in some other countries. The victory of Syriza, an anti-austerity party, has encouraged parties like Podemos in Spain, to continue its protests against government austerity measures. Pablo Iglesias, the leader of Podemos Party told supporters in Valencia that Syriza and Podemos will win.
The Greek election result has excited many Greeks but has worried many people in Greece and throughout the European Union. The future of Greece is uncertain. The world will be following developments in Athens with keen interest.