Photo: PIAZZA del POPOLO, Flickr
A worrying result from Greece’s first round of elections was the surprising success of Syriza, which is strongly against the current terms of the bailout. The fear is that a refusal to commit to the deal would result in a withdrawal of desperately needed public financing, and ultimately end with Greece exiting the euro.Party leader Alexis Tsipras is out with an editorial in the Financial Times in which he attempts to quell those concerns.
“Lest there be any doubt, my movement – Syriza – is committed to keeping Greece in the eurozone,” he writes.
That doesn’t mean he won’t challenge the status quo. From the FT:
“The people of Greece want to replace the failed old memorandum of understanding (as signed in March with the EU and International Monetary Fund) with a “national plan for reconstruction and growth”. This is necessary both to avert Greece’s humanitarian crisis and to save the common currency.”
The key question for observers of the election is whether that sentiment is at odds with Tsipras’ desire to stay in the Euro.
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