Syriza’s victory

The coalition of the radical left, known as Syriza, placed first in the Greek elections with 36.34% of the votes after having counted the 99.78 per cent of them. The popularity of this party reflects both the economic and social dissatisfaction among the citizens and well as their frustration due to the austerity program imposed┬áby Germany, and, of course, the victory partyÔÇÖs leader Alexis Tspiras rejects austerity and suggests a debt reduction. Therefore, concerns about the exit of Greece from the euro zone have been unleashed and so, in order to avoid the market insecurity and pressures, Syriza will need to guarantee a structural reform, as Mohamed A. El-Erian proposed. In addition, the elections in Greece have set off doubts about the future of other countries in the region, mainly due to the comparison established between Syriza and the Spanish party, Podemos. Nevertheless, the similarities between these two parties are the common measures proposed such as the end of austerity and the debt reduction, but a deeper analysis suggests the huge differences between them as the coalition form, the international affiliation and the electoral time-span. Anyway, there are, indeed, broader implications as the outcome of the Greek elections could trigger a political phenomenon involving the growth of non-traditional parties due to the dissatisfaction with the established political order that could┬áspread to the rest of Europe.

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