So Long, Austerity?

Syriza's Victory and the Future of the Eurozone

Head of radical leftist Syriza party Alexis Tsipras speaks after winning the elections in Athens, January 25, 2015. Marko Djurica / Courtesy Reuters

Two and half years after Greeks voted into power a coalition government led by Antonis Samaras, the head of the center-right New Democracy party, they returned to the polls this weekend.

The elections, which were forced because the Greek parliament was unable to select a new president, have propelled Greece back into the world’s headlines. The Coalition of Radical Left, known by its Greek acronym Syriza, won a decisive victory, polling at 36.3 percent of the vote compared to 27.8 percent for New Democracy, 6.3 percent for the neo-Nazi party Golden Dawn, and six percent for To Potami, a centrist party. Those results hand Syriza 149 seats out of 300, and it will form a coalition government with the far-right, anti-austerity party of Independent Greeks (which won 4.7 percent of the vote). Syriza’s 40-year old leader, Alexis Tsipras, who ran a successful anti-austerity campaign, will be the next prime minister of Greece.

Until 2010, Syriza

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