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               Greece's New Anti-Austerity Government Taking Form

   by VOA News

   An outspoken critic of Greece's economic bailout deal says he will
   become finance minister under new Prime Minister Alexis Tsipras's
   anti-austerity coalition government, a move that could further unsettle
   European markets.

   Economics professor Yanis Varoufakis announced his appointment Tuesday
   in a post on his blog, hours before Tsipras was scheduled to officially
   unveil his cabinet.

   Prime Minister Tsipras officially took power Monday, a day after his
   Syriza party won a sweeping national election on promises to end the
   severe austerity measures Greece was forced to enact in exchange for
   the $300 billion bailout package which has led to sharp pension and
   wage cuts, higher taxes and massive unemployment.

   But Greece's trio of international lenders -- the European Union,
   International Monetary Fund and European Central Bank -- have shown no
   inclination that they will renegotiate terms of that deal.

   Investors' fears over the impending clash between the new government in
   Athens and its lenders drove European stock markets down slightly by
   midday Tuesday, while Greece's stock market plunged over 2 percent.

   Also on Tuesday, Moody's ratings agency warned that Syriza's victory
   had produced a negative result for Greece's credit rating.

   Syriza has joined forces with another anti-austerity party, the
   right-wing Independent Greeks, after falling short of winning a
   majority in Greece's 300-seat parliament Sunday.
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   [1]http://www.voanews.com/content/greece-new-anti-austerity-government-
   taking-form/2615158.html

References

   1. http://www.voanews.com/content/greece-new-anti-austerity-government-taking-form/2615158.html