The leftist, anti-austerity Syriza party could take control of Greece as soon as Wednesday, if Prime Minister–designate Alexis Tsipras is sworn in on Monday and his government is quickly approved by the newly elected parliament. Investors aren't thrilled with Syriza's decisive win in Sunday's snap election.
Tsipras' pledge to renegotiate Greece's sovereign debt, cancel bailout-mandated austerity measures, and perhaps eventually pull Greece out of the euro currency sent the euro tumbling to $1.1098, its lowest level since September 2003. Stock futures also dropped on news of the Syriza's big win. Some analysts say the market fears are misplaced, arguing that Tsipras is unlikely to drop the euro and other European governments have greatly reduced their exposure to Greek debt since 2012, lowering the risk of contagion.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
'Republicans want to silence Israel's opponents'Instant Opinion Opinion, comment and editorials of the day
-
Poland, Germany nab alleged anti-Ukraine spiesSpeed Read A man was arrested over a supposed Russian plot to kill Ukrainian President Zelenskyy
-
Today's political cartoons - April 19, 2024Cartoons Friday's cartoons - priority delivery, USPS on fire, and more
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
-
Reddit IPO values social media site at $6.4 billionSpeed Read The company makes its public debut on the New York Stock Exchange
-
Housing costs: the root of US economic malaise?speed read Many voters are troubled by the housing affordability crisis
-
Feds cap credit card late fees at $8speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
