Monday, January 26, 2015

Left Wing Syriza Party Wins in Greece

Appearing before a throng of supporters outside Athens University late Sunday, Alexis Tsipras, 40, who now will become the next Prime Minister of Greece, declared that the era of austerity was over and promised to revive the economy, reports NYT. He also said his government would not allow Greece’s creditors to strangle the country.

More from NYT:
 On the campaign trail, he has promised to clean up Greece’s corrupt political system, overhaul the country’s public administration and reduce the tax burden on the middle class while cracking down on tax evasion by the country’s oligarchical business class.
But his biggest promise — and the one that has stirred deep anxiety in Brussels and Berlin as well as in financial markets — has been a pledge to force Greece’s creditors to renegotiate the terms of its financial bailout, worth 240 billion euros, or about $267.5 billion. 

Tsipras has said he wants to negotiate directly with German Chancellor Angela Merkel and other European leaders to reduce Greece’s debt burden. While free market advocates can cheer on his stand against the banksters, Tsipras is far from a free market advocate.

He has pledged immediate action on a number of fronts that will simply add to stagnation in Greece.. He has, for example, promised to raise the minimum monthly wage to €751 from €586 for all workers, restore collective bargaining agreements and prohibit mass layoffs. This is decidedly NOT the way to clear out the deadwood of a stagnant, economy slowed by elitists, interventionists and bureaucrats.

He no doubt will also launch various government spending programs, though it is unclear where he will get the money to finance them, especially if Greece continues to use the euro as its currency.



Tsipras to be sworn in as PM today at 4 p.m., president's office says.


  1. It looks like the Greek voters will get what they deserve. Poor fools.

  2. This should be interesting considering the creditors that stand to lose the most are Greek pension funds and banks.

  3. --" the next Prime Minister of Greece, declared that the era of austerity was over and promised to revive the economy "--

    Oh, don't they all promise the same thing?

  4. The Idiot Left reviving an economy. ROTFLMAO!! What a joke.

    Since when have they EVER been capable of that? They cannot even grasp the simple law of supply and demand, much less create prosperity.

  5. Beware of Greeks bearing gifts.

  6. These idiotic leftists thinks the law of economics and human nature don't apply to them. If you force your creditors to reduce their profits why would they loan you more money for more spending schemes? There's no such thing as "free" stuff. Someone's gotta pay!