Europe plays it tough with new Greek leaders

Greece has struggled under the severe austerity measures imposed when it accepted bailouts from the European Union five years ago. On Sunday, the beleaguered electorate overwhelmingly voted in the left-leaning Syriza party largely on its promise to roll back the measures that have crippled the Greek economy.
 
Not so fast, replied EU politicians and bankers opposed to any renegotiations of Greece's 240 billion euros worth of loans. According to reporting by CNNMoney, Germany considers the election results a "nightmare," and worries its taxpayers will be on the hook if Greek debt is written off. Leaders at the European Central Bank and International Monetary Fund also have stated that Greece is still expected to honor the terms of its repayment agreements.
 
Despite their concerns about what the Greek election results mean in relation to the country's plans to repay its debts, European leaders stated their intention to work with the new government as long as it plays by already-established rules, the report states.

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