ATHENS, Greece — A radical left-wing party vowing to end Greece’s austerity program won a historic victory in Sunday’s parliamentary elections, setting the stage for a showdown with the country’s international creditors that could shake the eurozone.
Alexis Tsipras, leader of the communist-rooted Syriza party, promised to end the “five years of humiliation and pain” that Greece has endured since an international bailout saved it from bankruptcy in 2010.
With 80 percent of polling stations counted, Syriza had 36 percent versus 28 percent for Prime Minister Antonis Samaras’ conservatives. It remained to be seen whether Syriza had enough seats to govern outright or would have to seek support from other parties. That might not become clear until Monday morning or later, when all the votes are counted.
If Tsipras, 40, can put together a government, he will be Greece’s youngest prime minister in 150 years.
The prospect of an anti-bailout government coming to power in Greece has sent jitters through the financial world, reviving fears of a potential Greek bankruptcy that could reverberate across the eurozone.
“The sovereign Greek people today have given a clear, strong, indisputable mandate. Greece has turned a page. Greece is leaving behind the destructive austerity, fear and authoritarianism. It is leaving behind five years of humiliation and pain,” Tsipras told a crowd of flag-waving party supporters.
Tsipras won on promises to demand debt forgiveness and renegotiate the terms of Greece’s $270 billion bailout, which has kept the debt-ridden country afloat since 2010.
To qualify for the cash, Greece has had to impose deep cuts in public spending, wages and pensions, along with public sector layoffs and repeated tax increases.
Its progress in reforms is reviewed by inspectors from the International Monetary Fund, European Commission and European Central Bank, collectively known as the troika, before each installment of bailout funds can be released. Tsipras pronounced the troika “a thing of the past.”
Greece’s creditors insist the country must abide by previous commitments to continue receiving support. The election results will be the focal point of a meeting Monday of eurozone finance ministers. Belgium’s minister, Johan Van Overtveldt, said there is room for flexibility, but not much.
“We can talk modalities, we can talk debt restructuring, but the cornerstone that Greece must respect the rules of monetary union — that must stay as it is,” Van Overtveldt told VRT network.
