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.
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