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    Syriza Cites Greece’s Struggle for Economic Growth as Example for EU

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    Syriza Party Wins Greek Snap Parliamentary Elections (49)
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    Syriza party's economic policy department head slammed the previous government for austerity measures that triggered a humanitarian crisis.

    MOSCOW, (Sputnik) — The struggle for economic growth in Greece could become an example for other European countries to follow, Yiannis Milios, the ruling Syriza party's economic policy department head, told Sputnik Tuesday.

    "We need development economics, and this is something all European countries are looking for. Greece was the first to struggle for this, but as we can see, there are people who think the same way everywhere, we want to become an example for everyone in Europe," Milios told Sputnik.

    He mentioned that the austerity measures, that the previous government adhered to, triggered a "humanitarian crisis for the most vulnerable groups of society."

    According to Milios, the renegotiation of the debt will touch upon domestic tax policy, though the exact steps the new government will make are still unclear. "We are asking for some fiscal space so that the country can have an opportunity for economic and social growth."

    he politician underlined that the bailout debt became especially large as the previous government had a high initial surplus that not only "swallowed about two percent of the debt," but was also used to partially pay back the debt itself.

    Milios explained that the debt rose from 115 percent to 175 percent GDP as the austerity measures provoked the current shrinking of the country's GDP.

    New Finance Minister Yanis Varoufakis announced last week that the Greek government would not seek to extend the bailout program and would not cooperate with the troika, which includes the European Commission, the European Central Bank and the International Monetary Fund.

    On Saturday, German Chancellor Angela Merkel said that any further debt relief for Greece is unlikely, as banks had already written off billions of the country's debt.

    In 2010, the troika agreed to a $146 billion bailout package for Greece to prevent a default on its massive debt and imposed strict austerity measures as part of the country's economic adjustment program.

    The left-wing Syriza party that gained victory in the latest parliamentary elections in Greece vowed to revise Greece's highly unpopular austerity measures.

    Syriza Party Wins Greek Snap Parliamentary Elections (49)


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