- The far-left Syriza party, which won Greece’s general election on Sunday, has formed an anti-austerity governing coalition with the right-wing party Greek Independents.
- The Independent Greeks, who won 4.7 percent of the national vote, have often taken a hard line against austerity and might push for tough terms in any debt talks.
- It took less than an hour of talks this morning for an alliance to be struck, with the groups bridging their numerous differences in a shared opposition to austerity measures enforced by the EU.
- The decisive victory by Tsipras’ Syriza in Sunday’s snap election reignites fears of new financial troubles in the country that set off the regional crisis in 2009. It is also the first time a member of the 19-nation euro zone will be led by parties rejecting German-backed austerity.
- Syriza leader Alexis Tsipras has vowed to renegotiate Greece’s bailout, worth €240bn (£179bn; $268bn), to end Greece’s “humiliation and pain”.
- In the markets, Greek stocks rebounded from initial falls and yields on the country’s government bonds nudged higher on Monday after it became clear anti-austerity party Syriza would be able to form a coalition government after its victory in Sunday’s election.
- Economics analyst Wolf Piccoli, from Teneo Intelligence, told Bloomberg that although Syriza may enjoy a short “honeymoon”, it is badly paired with its new coalition partner and the inevitable clash of extreme left and right-wing ideas could cause instability.
- Tsipras’ resounding victory is likely to empower Europe’s fringe parties, including other anti-austerity movements across the region’s economically-depressed southern rim.
- The trouncing of conservative Prime Minister Antonis Samaras represents a defeat of Europe’s middle-ground political guard, which has dallied on a growth-versus-budget discipline debate for five years while voters suffered.
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