The Wall Street Journal states that if Greece does not manage to sign a new deal on acquiring a new loan package, then it will face bankruptcy. The newspaper also notes that towards the end of 2014, the transfer of deposits from Greek banks was above and beyond three billion euro and if the situation remains mired in uncertainty, the outflow of deposits will continue. WSJ supports that Greeks are afraid a repeat of the fiscal and credit crisis of 2013 in Cyprus, where the country’s economy was saved at the last moment.
It continues by stating that the main danger is that SYRIZA’s leader, Alexis Tsipras, may not acquiesce to the Troika’s demands, and limit reforms already underway by the current government.
The WSJ reiterates that the leadership of SYRIZA states that it is not against foreign investments and business development and that the party will not be held responsible for the failures of recent fiscal policies. It adds that according to Alexis Tsipras, the victory of his party will mark growth for Greece, and if the party manages to form its own government, it will focus on reforming the eurozone through a liberal experiment on the model of social protection and growth.
However, the paper underlines that despite the judgmental attitude towards the EU, SYRIZA cannot manage one of the aims of its program without the EU’s help; namely, the borrowing of five billion euro for job creation, at a time when unemployment in Greece is over 20% and is one of the most critical issues.
Continuing, the WSJ is of the belief that according to latest polls, SYRIZA will not be able to form a single-party government.