Displaying items by tag: tsipras

Guardian’s Athens correspondent Helena Smith outlines the uphill battle Greek PM Alexis Tsipras faces after his party’s heavy defeat by over 9 points in Sunday’s European Elections to conservative major opposition party New Democracy.

The market reacted positively to the announcement of early elections due to the historic victory of New Democracy with a difference of 9.5 points against SYRIZA on Sunday’s European Parliament elections.

The Greek stock market rallied, and especially banks, after the historic outcome of Sunday’s European elections which saw conservative party New Democracy trounce leftist SYRIZA. The market opened upward with gains of 5.8%. The General Index is already moving at 770.25 points, recording an increase of 5.22%.

The SYRIZA Central Committee and SYRIZA-Progressive Alliance Elections Committee will hold a meeting on Monday.