ASSESSMENTS
Greece's New Government Faces Serious Discord Over Debt
Jan 26, 2015 | 15:08 GMT
(Milos Bicanski/Getty Images)
Summary
After receiving 36.3 percent of the vote in Greece's Jan. 25 elections, left-wing Syriza party reached an agreement Jan. 26 to form a government with the right-wing Independent Greeks party, which received 4.7 percent of the vote. This agreement makes Syriza leader Alexis Tsipras the new Greek prime minister. Syriza will push to reverse some of the previous governments' austerity measures, applied under pressure from the European Union and the International Monetary Fund. More important, it will propose a renegotiation of Greece's debt.
The alliance with the Independent Greeks, which includes former members of mainstream parties and takes a tough stance on immigration and foreign policy, may prove uncomfortable for many members of Syriza, but it puts in charge two parties that are willing to pursue a hard line on debt negotiations with Brussels. With most Greek voters supporting the country's membership in the eurozone, Syriza will not make any unilateral moves regarding Greece's debt, preferring an agreement with the European Union. However, Brussels is unlikely to accept a new write-down of Greece's debt, a reality that will push the two actors further toward collision. The first test for Athens will come as early as February, with the beginning of a long series of debt repayments.
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