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
ESO: Background information: European stocks drop as Greece’s ASE tumbles after vote results
Kathimerini, 31.12.14: Eurozone no longer obliged to save Greece, Merkel ally says
The Conversation, 30.12.14: January poll puts Syriza in driving seat – and Greece on course for economic turmoil
The Conversation, 31.12.14: Syriza surges ahead of January election as Greek voters reject austerity
Deutsche Welle, 04.01.14: Germany expects Greece to continue to meet obligations
BBC News, 04.01.15: Greece must 'abide' by bailout terms - Germany
EurActiv, 05.01.15: Gabriel: Germany wants Greece in the eurozone
EUObserver, 05.01.15: Berlin expects Greece to stay in euro, as 'Grexit' debate resurfaces
Die Welt, 05.01.15: Merkel's Grexit threat an avowal of failure (via Euro|Topics)
Proto Thema, 04.01.15: Stop the Greek bomb from exploding
Spiegel Online International, 05.01.15: Grexit Grumblings: Germany Open to Possible Greek Euro Zone Exit
Spiegel Online International, 05.01.15: Greek Roulette: What Would Syriza's Victory Mean for Europe?
EurActiv, 05.01.15: Grexit divides politicians in Athens
Deutsche Welle, 05.01.15: SPD deputy warns Germany of financial implications of 'Grexit'
EurActiv, 06.01.14: Grexit debate exposes cracks in Germany’s Grand Coalition
The Conversation, 06.01.15: Hard Evidence: can Germany throw Greece a lifeline and save the euro?
Kathimerini, 13.01.15: German taxpayers have nothing to fear from SYRIZA government, says Tsipras
The Conversation, 16.01.15: Greece’s choice: vote for Germany or suffer the consequences

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