Euro Slides to 11-Year Low After Greece’s Anti-Austerity Party Wins

Traders said the euro fell due to the uncertainty of Greece's new course and its feared exit from the Eurozone.

MOSCOW, January 26 (Sputnik) — The euro continued its slide against the dollar early Monday, trading as low as $1.1088, after Greece's anti-austerity Syriza party swept a snap parliamentary election, forex market charts showed.

The European Union's single currency crashed to $1.1098 on trading platform EBS, its new 11-year low since September 2003. The euro last traded $1.1176 as of 5:40 GMT, down from $1.1206 on Friday.

Speaking on his party's victory late Sunday night, Syriza's leader Alexis Tsipras vowed to deliver on his pre-election promises and put an end to the country's painful austerity plan, adopted by Athens in return for a lifeline from the troika of money lenders – the European Union, European Central Bank (ECB), and the International Monetary Fund (IMF).

Tsipras added his party's win was also the victory of all European people struggling against austerity. Commenting on the speculations about Greece's possible exit from the Eurozone, Tsipras stressed his party did not intend to take the country out of the euro currency bloc.