The new Cabinet of Prime Minister Alexis Tsipras announced late Tuesday included few changes to key ministry posts.
Against all odds Alexis Tsipras, the radiant Greek prime minister and leader of the radical party SYRIZA, won a clear victory last Sunday during the second parliamentary elections in Greece in less than a year. “We must work to re-establish, as soon as possible, financial stability, and restore normality to the banking system”.
“We have to decide what Europe we want”, Tsipras said.
He called the snap polls seven months into his first mandate, after hardline left-wingers in his Syriza party rebelled against a policy U-turn that saw Greece signing a third worldwide bailout accompanied by new austerity measures.
German chancellor Angela Merkel said she was open to discussing reduced interest rates and extended maturity dates.
A statement by the White House press secretary said “The United States looks forward to working with the new greek government as it takes steps to implement needed reforms, return to growth, and achieve debt sustainability within the eurozone, including through agreement on debt relief with its creditors“.
Greece has survived on global rescue loans since 2010, and is hoping to improve repayment terms for its staggering national debt that is worth roughly 175 percent of the country’s annual output.
Tsipras promised action to fight tax evasion and undeclared employment, and reform public administration, while seeking a good compromise on creditor-demanded labor and pension reforms. “It’s to be at their ministries…to solve the problems of the Greek people“. “It is critical not to lose an inch from the ground gained in the deal”, Tsipras said, telling ministers they had “no time” to lose, and urging them to stay off television.