Austerity Backlash Adds New Dimensions to EU Political Spectrum

Handshake between Greek Prime Minister Alexis Tsipras and European Commission President Jean-Claude Juncker, Brussels, Belgium, Feb. 4, 2015 (European Union photo).
Handshake between Greek Prime Minister Alexis Tsipras and European Commission President Jean-Claude Juncker, Brussels, Belgium, Feb. 4, 2015 (European Union photo).

The victory of Syriza in Greece’s recent parliamentary elections has led some to speculate about the impact the radical leftist party will have on Europe’s political landscape. With the Greek economy suffocating from depression-level contraction, Syriza campaigned on the promise to end the budgetary austerity imposed by the so-called troika—the International Monetary Fund, the European Commission (EC) and the European Central Bank (ECB)—as a condition for the bailouts that are still the only thing keeping the country from a sovereign default. Would this leftist insurrection against the fiscal stewardship of the powers that be in Brussels, some asked, serve as […]

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