The victory of Greece’s anti-austerity SYRIZA party raised concerns in the global markets sending the Euro down to an 11-year low against the US dollar. The single currency dropped to $1.1098 EUR=, a level not seen since September 2003.
International lenders have been fearful of a standoff with SYRIZA over austerity measures as well as the stance of Syriza leader Alexis Tsipras.
Tsipras, who is expected to become the youngest Prime Minister of Greece, has said that he will renegotiate Greece’s debt and reverse many measures that brought austerity to the country.
Right after the first election results, Tsipras addressed thousands of supporters in Athens stating that “Troika and austerity belong in Greece’s past.”
SYRIZA has also promised to hire public servants that have been fired because of Troika demands, as well as reopen Greece’s public broadcaster ERT.
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