Back with a mandate

Alexis Tsipras has reasserted his political dominance by defeating the opinion polls, let alone his political opponents – he now has the leeway of a full four-year term in government to lead the country out of its economic ordeal.

Voters have given left-wing Syriza and its right-wing coalition partner, the Independent Greeks, a second chance, returning them to power with marginal losses.

Tsipras’ hard negotiating tactics vis-a-vis the EU-IMF creditors seem to have paid off, despite their spectacular failure, as the electorate appears fatigued with parties considered the political old guard.

Last Sunday’s general election possibly sealed the end of the bailout vs anti-bailout debate in Greece, as anti-austerity parties received only around 16% of the votes cast and are represented in the House with just 34 seats out of 300.

Notably, the radical leftist faction that defected from Syriza to advocate a return to a national currency failed to cross the 3% threshold and as a result are left with no parliamentary presence.

In forming his new cabinet, Tsipras relied on those that stood by him during the turmoil of the last couple of months, ensuring that the team that concluded the negotiation with the creditors maintains the crucial posts relating to the implementation of the deal.

Thus, he has secured good communication with Brussels and Washington, but reform ownership could resurface as an issue. Syriza won the ballot by convincing those hardest hit by the bailouts

that it can offer them the best possible protection by alleviating some of the most painful provisions of the agreement it itself has signed.

Critics say that this is a hinted pledge by Tsipras to undermine the core of the programme he passed from Parliament but publicly disowns; and there are concerns as to whether he will enjoy solid support from his party as a large number of MPs re-elected with Syriza had failed to vote for the deal in the summer and have been voicing objections to some of its key parts.

Embarrassingly, the new cabinet kicked off its life with a resignation just hours after it took office, as a junior minister appointed by the Independent Greeks was forced to resign amidst allegations of past antisemitic and homophobic comments.

Τhe PM is certain to enjoy some elbowroom as the opposition looks numbed by its spectacular defeat – ND has already begun the procedure of electing a new leader and developing a new positioning and strategy.

The PM will enjoy some elbowroom as the opposition looks numbed by its spectacular defeat; but he will not be given a break by creditors or, indeed, the state of the economy.

But he will not be given a break by creditors or, indeed, the state of the economy.

Brussels will be waiting to see some prior actions implemented in the immediate future in order to release some much-needed chunks of the €86 bn of loans in the next few weeks to keep the state afloat and recapitalise the banks, as capital controls remain in place and keep crippling business.

Until the end of the year, Tsipras will have to prove that, besides being a prolific campaigner and election winner, he has the political talent to manoeuvre between the rock of popular discontent with such unpalatable policies as tax hikes and pension restructuring and the hard place of a cash-strapped state and a sluggish economy.