IPFS News Link • Economy - Economics USA
Greece To Leave 'Disastrous Austerity' Behind
• http://news.sky.comThe leader of the left-wing Syriza party Alexis Tsipras has said Greece is "leaving behind disastrous austerity", after his party claimed victory in the country's general election.
And the 40-year-old told jubilant supporters the country's group of lenders "is finished".
He was speaking after the Greek Prime Minister Antonis Samaras, who heads the conservative New Democracy party, conceded defeat to Mr Tsipras.
Partial election results suggest Syriza has secured 36.5% of the vote, compared to 27.7% for the New Democracy party.
This indicates the party would get 150 seats in the 300-seat parliament - one short of an overall majority.
Hundreds of flag-waving supporters have turned out in central Athens to celebrate.
But the victory for Syriza raises the prospect of a stand-off with European creditors, with Mr Tsipras promising to renegotiate the repayment terms of Greece's debt.
The Greek government was forced to undertake deep budget cuts and fiscal reforms as a condition for a €240bn euro bailout in 2010 from the so-called "Troika" - the group of creditors made up of the European Union, the International Monetary Fund and European Central Bank (ECB).




