Does the strong anti-austerity line of left-wing SYRIZA leader Alexis Tsipras boost the party in the awake of fresh elections? Apparently it does, according to Wall Street Journal, that considers the possibility of Tsipras to emerge as the biggest winner in potential upcoming fresh elections.
“Tsipras, strengthened by a broad coalition of like-minded left-wing groups, could emerge as the biggest winner as Greeks continue to register opposition to the austerity measures.
According to the latest internal surveys by Greece’s conservative and Socialist parties, Syriza continues to make strong gains among Greek voters three days after Sunday’s elections and is now regarded the country’s most popular party.
Sources from both parties said Wednesday that Syriza is now garnering around 25% of the vote–up from the outcome Sunday when it won 16.8% support, putting it two percentage points behind New Democracy’s 18.9%.
But Samaras is banking that some voters–having registered their protest in the first elections–will turn away from Syriza’s calls to annul the loan deal and other radical positions that include a moratorium on debt payments and nationalizing the Greek banking system.
“In the June vote, some of the voters that abandoned the mainstream parties will return,” said one New Democracy party official. “New Democracy’s strategy will be to tell the voters: You either vote for parties which guarantee Greece’s presence in the euro zone or you don’t.”
However WSJ did not publish the rates of the internal survey for PASOK and ND.
Ok, he seems like a nice guy don’t get me wrong but can he run a country? He did a lot of nice things for immigrants when he was on city council but organizing rallies, food-drives, strikes, and protests is different than commanding a government with external foreign policy people and pressure knocking on your door every day.
Look, I may be being dim and missing something but why (assuming the majority do want to…) Just why do a majority of Greek people (apparently) want to stay in the eurozone?
because euro exit would ruin us (new currency will be devalueated, inflation will rise and nobody knows who will profit from the issue).
I don’t think devaluation/inflation would ruin us, but the strong euro will certainly do it !
I’m running a small compagny in Greece that makes export, and I can assure you that I’m not afraid of Drachma return, not at all 🙂
and you shouldn’t, then you will be super competitive. pensioners, employers will find impossible to pay back loans, and extraordinary prices in goods while thir income will further decrease, should devaluation be 40+%. Belieive me I ve I went through this in another country. Euro is a blessing and a curse for Greece with all the pro and contras.
I don’t think euro is a good thing, let’s see the actual situation !
As for the loan, of course all loans labelled in euro will then be labelled in Drachma, so nothing will change.
Trust me too, I’m not greek and I can see what a strong euro can do to other country stronger than Greece !
Of course oil and gas will be more expensive, as well as imported goods,but it’s for the better ! Anyway, there is no other choice !
Erase the debt, situation will not be better, because of the lack of industry and local work.
Decrease the expenses, it will not do anything better for that industry !
The only way in my opinion to get back to something good is first to have stable situation, and in my opinion, a weaker money.
Read Paul Krugman, he is a nobel price and think that the global european politic is not good for southern countries, but not only them, you’ll see situation in France and biggger countries too !
“all loans labelled in euro will then be labelled in Drachma” you mean internal loans, because the others will remain in euro. I see my great-great grand children still plodding to exchange drachma into euro
FX, I too live mostly from income from abroad. Kind of export. But believe me, Greece back at the drachma hands the same old crooks back the money press to do what they always did. You, as a company will pay through your nose to pay for their ‘needs’.
And good luck exporting. After a deliberate default of Greece, the world will look even worse for Greek businesses. First you will have to deliver everything in full before any foreign company will start paying you. Then, when this money arrives the sky-high inflation (remember those money presses?) will have eaten away any profit you thought you made. Then you will have to pay again and again the same crooks at customs, DOY and other agencies to get your stuff out of the country. And don’t you dare import anything. And having to pay for anything to transport will be costly as nothing before.
So, I hope you export ideas and send them on some saved paper under a pigeon.
Yes of course, I didn’t meant back to the bad old way 😉
I meant drachma as a way to launch the machine, not to live the easy way with printed money !
Well, a return to the Drachme quite likely would make it easier to revive the economy. But then the pressure for reforms would be gone, and most probably Greek politicians would return to their bad old ways of financing irresponsible campaign promises with freshly printed money. It takes a longer time, and a strong force towards change, for people to abandon old habits…
yes of course, I was talking about loans from greek banks, but that’s 99% of the personnal debt.
Debt of the government is something else, but you will agree that anyway, Greece cannot pay it back 😉
Anyway, as a long term solution, euro in it current form is not a good thing for Greece, neither for Europe ! Only the german seems to have an interest for a strong euro !
Drachma will certainly come with drama ;), but I personnaly think, with my economical background, that it would be a better start !
Anyway I guess that we will be able to have a stong opinion on this, because I think that Greece is living it’s last year with euro !
Thanks for your nice website !
Fx, it’s not only the Germans, but virtually all (economically successful) northern Euro countries that are interested in a strong currency. We would have never joined a system that uses “Monopoly” money (every other round, your rent doubles!) like the old Drachme, no matter how much the French pushed us. Well, it should be obvious by now that the Euro would be stronger without the Southern nations. However, this isn’t a purely economical issue, but a very political one, too. But if the SPIG’s seriously want out and create a currency of their own, a Pesetrachmira or something, best of luck! We others would be better off, and if the Southern folks like to live under high inflation rates, that’s not our problem or business. Every one to his liking.
OK, thank you for taking the time to make that clear.