Thursday, January 22, 2015
Voters may return a left-leaning coalition led by the Coalition of the Radical Left (Syriza), which has pledged to renegotiate the country's massive debt and roll back many of the reforms that have been the 'quid pro quo' for EU/IMF bailout loans over the past four years. At issue is whether to continue the austerity policy necessary to fulfil the second economic adjustment programme (EAP), realise its final loan disbursements and negotiate a new loan package to provide a back-stop, as Greece seeks to return to borrowing in the market place. The EAP's fifth review must be concluded to secure release of its penultimate pay-out. The programme has been extended until February 28, allowing post-election negotiations.