Europe is now on course for a showdown between Alexis Tsipras and Wolfgang Schäuble over Greek debt

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Series Details 31.12.14
Publication Date 31/12/2014
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On 29 December 2014, the Greek Parliament failed to elect a new President, triggering snap elections for 25 January 2015. With Alexis Tsipras’ Syriza currently leading opinion polls, the new elections have raised concerns over the Greek economy, given Tsipras’ stated intention to renegotiate the terms of the country’s bailout.

Kevin Featherstone writes that while it is far from certain that Syriza will receive enough support to gain a parliamentary majority, the elections could set up a clash between Tsipras and a German political leadership which is unwilling to compromise on its commitment to austerity and structural reforms.

Deutsche Welle reported that German government spokesman Georg Streiter had said on the 4 January 2015 that 'Berlin expected whichever party took power following Greece's general election to stay the course on the terms of the country's international bailout, which had kept Athens from going into default'.

Spiegel Online International wrote in a feature published on the 5 January 2015 that Chancellor Merkel was willing to accept a 'Grexit' (Greece leaving the eurozone) should a new leftist government in Athens demand concessions.

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Related Links
ESO: Background information: Greek legislative election, 25 January 2015 http://www.europeansources.info/record/greek-legislative-election-25-january-2015/
ESO: Background information: European stocks drop as Greece’s ASE tumbles after vote results http://www.europeansources.info/record/european-stocks-drop-as-greeces-ase-tumbles-after-vote-results/
Kathimerini, 31.12.14: Eurozone no longer obliged to save Greece, Merkel ally says http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_31/12/2014_545848
The Conversation, 30.12.14: January poll puts Syriza in driving seat – and Greece on course for economic turmoil https://theconversation.com/january-poll-puts-syriza-in-driving-seat-and-greece-on-course-for-economic-turmoil-35824
The Conversation, 31.12.14: Syriza surges ahead of January election as Greek voters reject austerity https://theconversation.com/syriza-surges-ahead-of-january-election-as-greek-voters-reject-austerity-35829
Deutsche Welle, 04.01.14: Germany expects Greece to continue to meet obligations http://dw.de/p/1EEpF
BBC News, 04.01.15: Greece must 'abide' by bailout terms - Germany http://www.bbc.co.uk/news/business-30672182
EurActiv, 05.01.15: Gabriel: Germany wants Greece in the eurozone http://www.euractiv.com/sections/euro-finance/germanys-gabriel-says-berlin-wants-greece-stay-eurozone-311013
EUObserver, 05.01.15: Berlin expects Greece to stay in euro, as 'Grexit' debate resurfaces http://euobserver.com/economic/127085
Die Welt, 05.01.15: Merkel's Grexit threat an avowal of failure (via Euro|Topics) http://www.eurotopics.net/en/home/presseschau/archiv/aehnliche/archiv_article/ARTICLE155990-Merkel-s-Grexit-threat-an-avowal-of-failure
Proto Thema, 04.01.15: Stop the Greek bomb from exploding http://www.eurotopics.net/en/home/presseschau/archiv/aehnliche/archiv_article/ARTICLE156022-Stop-the-Greek-bomb-from-exploding
Spiegel Online International, 05.01.15: Grexit Grumblings: Germany Open to Possible Greek Euro Zone Exit http://www.spiegel.de/international/europe/merkel-and-germany-open-to-possible-greek-euro-zone-exit-a-1011277.html
Spiegel Online International, 05.01.15: Greek Roulette: What Would Syriza's Victory Mean for Europe? http://www.spiegel.de/international/europe/aims-of-greek-politician-alexis-tsipras-remain-a-mystery-in-europe-a-1011288.html
EurActiv, 05.01.15: Grexit divides politicians in Athens http://www.euractiv.com/sections/euro-finance/grexit-divides-politicians-athens-311032
Deutsche Welle, 05.01.15: SPD deputy warns Germany of financial implications of 'Grexit' http://dw.de/p/1EF7Q
EurActiv, 06.01.14: Grexit debate exposes cracks in Germany’s Grand Coalition http://www.euractiv.com/sections/euro-finance/grexit-debate-exposes-cracks-germanys-grand-coalition-311044
The Conversation, 06.01.15: Hard Evidence: can Germany throw Greece a lifeline and save the euro? http://theconversation.com/hard-evidence-can-germany-throw-greece-a-lifeline-and-save-the-euro-35870
Kathimerini, 13.01.15: German taxpayers have nothing to fear from SYRIZA government, says Tsipras http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_13/01/2015_546164
The Conversation, 16.01.15: Greece’s choice: vote for Germany or suffer the consequences https://theconversation.com/greeces-choice-vote-for-germany-or-suffer-the-consequences-35938

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