Global leaders and financial markets will be captivated by a high-stakes political campaign with broad economic implications Sunday, and it won’t be in the United States.
Instead, Greek parliamentary elections set halfway across the world will grip American policymakers and financial leaders as the poll results may dictate whether Greece can remain within the Eurozone, or if its messy exit could throw the global financial system into turmoil.
The White House will be watching the results closely too, as the president’s reelection campaign, thought to hedge primarily on the fate of the economy, could be swept up as well.
The populist leftist Syriza Party is led by Alexis Tsipras, who has basically told voters to call the bluff of Greece’s global backers – reject the austerity package offered by the European Union and International Monetary Fund, nationalize the banks, and effectively dare European leaders to cut off Greece’s lifeline and push them away from the eurozone.
The uncertainty brought by a Syriza win would test the mettle of financial markets, and its aftermath could weigh on the global economy, which is far from resolute.
Read more at the Hill.com HERE.