The straw that could break the EU’s back. Germany, the powerhouse that runs Europe, is no doubt watching this closely.
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Polls have closed in the Greek elections which could see the radical leftist Syriza party take power, that has pledged to ditch painful austerity measures imposed during the economic crisis.
It is leading exit polls ahead of the official election result with between 35.5% and 39.5% of the vote, compared to between 23% and 27% for the New Democracy party, led by incumbent Prime Minister Antonis Samaras.
Victory for the opposition party would set the stage for a clash with European creditors.
Syriza’s 40-year-old leader, Alexis Tspiras, has promised to renegotiate the repayment terms of Greece’s €318bn debt and restore the country’s “dignity” by tackling the soaring unemployment and mass wage cuts that followed the country’s international bailout.
But Syriza’s refusal to continue meeting the austerity demands placed on Greece by its creditors has sparked fears the country may be unable to repay its debts, which could force the country’s exit from the Eurozone.
Full article: Greek Election: Syriza Party Leads Exit Polls (Sky News)