As if it were the plot of a Greek tragedy, the Greek people went to the polls on Sunday to punish those leaders who run the country in “austerity” mode.
Both socialist PASOK and centre-right New democracy failed to get enough votes, although New Democracy emerged as the biggest party.
But the center-right leader Antonis Samaras couldn’t put together a coalition on Monday.
So now is the turn of Syriza. This radical left-wing coalition became the second political force and will try to negotiate a government. Syriza wants Greece inside the eurozone but hopes to re-design the agreements with the EU and IMF, and to introduce growth-like measures.
Germany has already warned that the austerity plan is not up for negotiation. Brussels urges Greece to stick to the promises made.
“The Commission hopes and expects that the future government of Greece will respect the engagements that Greece has entered into”, EC’s spokesperson said.
Experts believe that this unprecedented fragmentation could lead to weeks of instability and force Greece to hold new elections as early as June… Around that time, Greece faces a deadline for additional public spending cuts, as a condition to receiving more funds from the EU and IMF.