Sunday, January 25, 2015

Greence and Anti-Austerity

The Syriza party ("Radical Coalition of the Left") is projected to win either just under the majority of available seats in  Greece's government or perhaps even the majority. The party's main label is that its very much anti-austerity, which might conflict with some of the countries in the European Union (namely Germany). Austerity which is an economic system that encourages a government working within a recession to lower its expenditures in order to keep the costs and taxes on a similar level (if not resulting in a government surplus) as a means to recover over time. For many citizens in Greece this has not been a favorable strategy, and as such they have chosen to let disappointment guide their votes. This update leaves us wondering just how the European Union will respond to the future of Greece. Will countries, such as Germany, even want Greece to remain in the E.U.? We will have to wait and see what the anti-austerity group can do for Greece amidst its continued debt troubles.

BBC Source

-Jon Stanciu

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