Radical party’s election win in Greece creates shockwaves


ASSOCIATED PRESS: Creditor nations suggest the move doesn’t necessarily mean the struggling economy will eschew the euro.

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ASSOCIATED PRESS: Creditor nations suggest the move doesn’t necessarily mean the struggling economy will eschew the euro.

Financial markets took in their stride on Monday the victory of the left-wing Syriza party after several leaders in the 19-country eurozone suggested they were open to discussing how to lighten Greece’s debt burden. The country has since 2010 needed 240 billion euros ($270 billion) in loans from fellow eurozone countries and the International Monetary Fund to avoid bankruptcy.

The talks are expected to be tough and protracted, however, as regional heavyweight Germany has so far taken a hard line on debt in Europe.

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