The results of the Greek elections are in: New Democracy, the conservative “pro-bailout” party, has come in first and appears to have enough support to form a new government.
So what does this mean? In the very short term, it probably means Greece won’t be leaving the euro zone. New Democracy’s leader, Antonis Samaras, basically wants to abide by the terms of the country’s bailout agreement with the rest of Europe. Greece will continue to stick with its austerity program — spending cuts, tax hikes, paring back public-sector jobs. And in return, the “troika” (the European Central Bank, the European Commission, the IMF) will keep sending Greece billions of euros to run its day-to-day operations.
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