The Telegraph’s Ambrose Evans-Pritchard deconstructs the Greek and EU threats after Syriza’s election win.
Eyebrows were raised over the weekend when two ECB members threatened to cut off support for the Greek banking system if the new Syriza government walks away from its Troika bail-out obligations on February 28.
There is near universal agreement that such action would precipitate a systemic banking crash in Greece, lead to full-blown default and force the country’s ejection from the eurozone with days.
He frames the fight as a battle over austerity and declares that those willing to spend and stimulate will prove to be the winners in Europe.