The Greek people elected a new government to power on the 25th January; Syriza are an anti-austerity party led by Alexis Tsipras. They were elected as the people have suffered through the stringent austerity measures dictated under international bailout agreements. Without an end insight and significant economic improvement the Greek people have voted for change.
Greece’s financial stability and future EU membership is in question, as Tsipras attempts to negotiate alternatives, the potential of a Grexit beckons. The country has a matter of weeks to meet debt repayments or the nation will default on its debt obligations. This would likely set in motion short term chaos for the country, with the unprecedented or planned for; exit of a country from the single currency.
According to the BBC David Cameron has met with senior officials to discuss the fallout from Greece exiting the Eurozone. The direct exposure to the UK’s overall economy is limited; however the larger risk is that the move sets off a contagion within its members. With a general election pending in the UK, and the headline Conservative policy of an EU referendum, how Greece moves forward is likely to be politicised.