Now the fun part begins. After months of speculation, the radical antiausterity party Syriza has now taken power in Athens. Its platform of staying within the euro while overthrowing the conditions of membership is going to test the leadership of the European Union to the limit. The euro has already plunged to a multi-year low against the dollar, partly on account of the potential for chaos that the election result has unleashed. But it is about to go a lot lower still. Why? Because there will be a tense game of brinkmanship between Brussels and Athens before a compromise is worked out. Because Syriza’s victory will ... (full story)