In Greece Right Wing and Left Wing Unite Against Austerity

A victorious left-wing Syriza is poised to form a coalition government with an unlikely ally: the right-wing Independent Greeks party.

However the country’s politicians, market experts and the head of the International Monetary Fund, have warned that any anti-austerity government would face immediate and pressing problems.

Global markets were jittery as investors digested news that anti-bailout Syriza won a general election in Greece on Sunday.

Syriza’s leader Alexis Tsipras was sworn in as prime minister on Monday. The announcement followed a statement from the right-wing – and also anti-austerity — Independent Greeks party that it had struck a deal to form a governing alliance with Syriza.

The Syriza leader has said he would try to renegotiate Greece’s debt agreements, focusing the attention of markets, euro zone leaders and not least of all, the troika of organizations overseeing Greece’s bailout – the European Commission, European Central Bank and international Monetary Fund (IMF).

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza