Unrealistic to expect Greece to repay debt in full: Report

The possibility of Greece defaulting on its debt repayments under a Syriza government is likely to spark renewed fears the country could be forced to leave the eurozone -- a so-called "Grexit".

Unrealistic to expect Greece to repay debt in full: Report

Zee Media Bureau

New Delhi: Syriza party chief economics spokesman has said that it is “unrealistic” to expect Greece to repay its huge debt in full even as party leader Alexis Tsipras said that he is ready renegotiate the terms of Greece`s 240-billion-euro ($269 billion) bailout with the European Union and the International Monetary Fund.

"Nobody believes that the Greek debt is sustainable," Euclid Tsakalotos told BBC.

"I can assure you the new government will cooperate with the creditors and negotiate a new mutually viable solution," Tsipras said after coming to power.

Anti-austerity party Syriza won a historic victory in Greece`s election Sunday, partial results showed, setting up a confrontation with the EU over its plans to renegotiate the country`s massive bailout.

Syriza are almost certain to become the first anti-austerity party in power in Europe and its leader Alexis Tsipras, 40, would be Greece`s youngest prime minister in 150 years.

The possibility of Greece defaulting on its debt repayments under a Syriza government is likely to spark renewed fears the country could be forced to leave the eurozone -- a so-called "Grexit".

Financial markets had already been spooked at the prospect of Syriza coming to power before the election.

In a sombre statement conceding defeat, Samaras said: "I hand over a country that is part of the EU and the euro. For the good of this country, I hope the next government will maintain what has been achieved."

With AFP Inputs

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