John Ward – Greece Analysis: Syriza Hits Ground Running As Tsipras Brokers Anel Coalition Deal To Seal Majority Rule – 27 January 2015

Prime Minister Tsipras faces a cold dawn of Monday reality

In a rapid (and smart) move that demonstrates both energy and planning, Alexis Tsipras is this morning 95% of the way into a Coalition with ANEL – better known in the West as the Independent Greeks. This is an anti-euro Party of right-wing Greek nationalists.

In going for this option, Tsipras shows that – unlike most on the Left – he can unite against a common enemy. I also suspect that his advisers see this as one dimension in an overall strategy designed to calm down bank depositors and bond markets. But shrewd or not, the new Prime Minister is going to face several waves of attack from those hostile to his election – both inside and outside Greece.

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John Ward – Greece Analysis: Syriza Hits Ground Running As Tsipras Brokers Anel Coalition Deal To Seal Majority Rule – 26 January 2015

Prime Minister Tsipras faces a cold dawn of Monday realityIn a rapid (and smart) move that demonstrates both energy and planning, Alexis Tsipras is this morning 95% of the way into a Coalition with ANEL – better known in the West as the Independent Greeks. This is an anti-euro Party of right-wing Greek nationalists.

In going for this option, Tsipras shows that – unlike most on the Left – he can unite against a common enemy. I also suspect that his advisers see this as one dimension in an overall strategy designed to calm down bank depositors and bond markets. But shrewd or not, the new Prime Minister is going to face several waves of attack from those hostile to his election – both inside and outside Greece.

The first thing to set off screaming headlines will be the effect on the euro. Overnight, the single currency plunged down to 1.12 against the Dollar – before the weekend it was around 1.15. We should expect to see a further weakening during the day.