Socialists take control of Greece

More Than Mortal · January 26, 2015, 02:14:05 PM

Quote

The head of Greece's far-left Syriza party, Alexis Tsipras, has been sworn in as prime minister and is set to lead an anti-austerity coalition government.

Turning up for the ceremony without a tie, the leftist took the oath less than 24 hours after winning the general election on an anti-austerity platform.

Earlier, he formed a coalition with the centre-right Independent Greeks.

European Commission head Jean-Claude Juncker has reminded him of the need to "ensure fiscal responsibility".

Congratulating Mr Tsipras on his election win, Mr Juncker said in a tweet: "The European Commission stands ready to continue assisting Greece in achieving these goals." He also referred to "promoting sustainable jobs and growth".

The Syriza leader has vowed to renegotiate the bailouts, which are worth €240bn (£179bn; $268bn).

Jeroen Dijsselbloem, head of the eurozone finance ministers' group (the Eurogroup), said after a meeting of the group in Brussels that it congratulated the new Greek government on its electoral success and looked forward to working with it.

He said it was too early to comment on the Syriza-led government's policies as they were still being formulated.

The euro recovered from an 11-year low against the US dollar as investors digested what Syriza's victory meant for the eurozone's future. Europe's main share markets also rose - after initial falls - on hopes that a compromise over Greece's bailout terms might be found.

It is likely that investors believe reason will prevail, and Berlin will sanction a write-off of Greece's excessive debts, BBC economics editor Robert Peston reports.

Well, this will probably end horribly.

DAS B00T x2 · January 26, 2015, 02:16:21 PM

But Yoorope is already a socialist haven...

Dopameme · January 26, 2015, 02:17:36 PM

What else can Greece do at this point? Their debt is astronomical, maybe change is a good thing.

Dustin · January 26, 2015, 02:18:00 PM

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More Than Mortal · January 26, 2015, 02:20:10 PM

Quote from: Dustin' on January 26, 2015, 02:18:00 PM

What's your opinion on austerity verse spending?

It's very contingent, but on the whole austerity is better than fiscal stimulus and austerity is dramatically improved by monetary stimulus done in conjunction with it.

Raptorx7 · January 26, 2015, 02:20:14 PM

Germany pay off there debts!

Gib euro

Alternative Facts · January 26, 2015, 02:22:25 PM

DILF

OT: At this point, Greece's economy is going to be fucked for the near future. Might as well give someone else a crack at trying to fix it.

More Than Mortal · January 26, 2015, 02:24:21 PM

Quote from: Icy on January 26, 2015, 02:22:25 PM

OT: At this point, Greece's economy is going to be fucked for the near future. Might as well give someone else a crack at trying to fix it.

I don't think Wile E. Coyote policies are going to make things better by any measure.

Alternative Facts · January 26, 2015, 02:27:03 PM

Quote from: Meta Cognition on January 26, 2015, 02:24:21 PM

Quote from: Icy on January 26, 2015, 02:22:25 PM
OT: At this point, Greece's economy is going to be fucked for the near future. Might as well give someone else a crack at trying to fix it.
I don't think Wile E. Coyote policies are going to make things better by any measure.

Would any of the candidate's have?

More Than Mortal · January 26, 2015, 02:27:50 PM

Quote from: Icy on January 26, 2015, 02:27:03 PM

Quote from: Meta Cognition on January 26, 2015, 02:24:21 PM
Quote from: Icy on January 26, 2015, 02:22:25 PM
OT: At this point, Greece's economy is going to be fucked for the near future. Might as well give someone else a crack at trying to fix it.
I don't think Wile E. Coyote policies are going to make things better by any measure.

Would any of the candidate's have?

Ha, you've got me there.

Alternative Facts · January 26, 2015, 02:29:42 PM

Quote from: Meta Cognition on January 26, 2015, 02:27:50 PM

Quote from: Icy on January 26, 2015, 02:27:03 PM
Quote from: Meta Cognition on January 26, 2015, 02:24:21 PM
Quote from: Icy on January 26, 2015, 02:22:25 PM
OT: At this point, Greece's economy is going to be fucked for the near future. Might as well give someone else a crack at trying to fix it.
I don't think Wile E. Coyote policies are going to make things better by any measure.

Would any of the candidate's have?
Ha, you've got me there.

Icy - 1
Meta - 1,653

On a roll here.

More Than Mortal · January 26, 2015, 02:32:29 PM

Quote from: Icy on January 26, 2015, 02:29:42 PM

Icy - 1
Meta - 1,653

On a roll here.

Genghis Khan · January 26, 2015, 02:33:43 PM

Nothing would make me happier than seeing the eurozone and the EU crumble.

Mega Sceptile · January 26, 2015, 03:15:29 PM

why is greece even a thing still? I'd just say fug em and kill greece off now if I was head of the EU, as all it's doing is sucking up money.

Billy Mitchell · January 26, 2015, 05:25:33 PM

You 'owight geezer?

More Than Mortal · January 26, 2015, 05:33:49 PM

Quote from: Billy Mitchell on January 26, 2015, 05:25:33 PM

You 'owight geezer?

I love you.

CND AAA Beef · January 26, 2015, 05:40:17 PM

Hell, at this point, they might as well cede their sovereignty to Germany. They're already the only ones keeping the country going.

So these new guys are going to try to get Greece's debt written off (HA, good luck with that!) and crank up the social benefits again.

But the only way they were able to pay for those social benefits in the first place was by taking out loans.

So Greece will try and write off its debt, will settle for a revised payment plan instead, and will try and take out more debt to pay for the promised social benefits. And that new debt will be issued at an even higher interest rate...

Super Irish · January 26, 2015, 08:29:39 PM

I wish to know how their anti-austerity plans are to pay off the debt they owe to the EU.

I think it was just a good reason for people to support it but how the fuck are they going to manage it any better than the last party?

Turkey · January 27, 2015, 12:06:45 AM

So they're talking bailouts and banking on their debt being skimmed off? Mkay.

My liberal friends are incredibly happy with the decision, however.

Isara · January 27, 2015, 05:12:11 AM

Mr. Tsipras did the moves that Mr. Samaras dodged. Unlike New Democracy, the current government was formed quickly, and has many allies in foreign affairs, and internally. Greece's socialistic policies such as universal healthcare, retirement and so forth including state ran water, electricity and phone companies were part of Greece before the crisis.

If you expect the Greek economy to collapse overnight then please rethink on the subject. The approach is different, but the end result is that canceling the debt is not possible. However, a new government that might tackle onto the problems differently could hopefully achieve a different result from more established and corrupt parties.

A political class that is anti-austerity and is willing to fight (instead of shifting blames, and enrapturing money under the tables) against the more oppressive policies is certainly a step forward.

I also want to note that Syriza is up for the separation of state and church. That is something that holds Greece backwards, especially how the church is involved in the ministry of education. (Known as Ministry of Education and Religious Affairs) where indeed, Mr. Tsipras was the first PM that swore the oath without the church.