"This sent global markets reeling because he could potentially unleash a series of events that would force Greece to leave the euro zone."
"Besides abandoning the bailout, Tsipras said he’d like to nationalize the banks permanently, restore all salaries and pensions to their previous higher levels and bring back collective bargaining rights."
"It isn’t the first time Tsipras has said these things. But it’s the first time he’s been even close to a position of power to make it happen."
The title of this piece is the best "Meet the Greek Leader Who Sent Markets Reeling."
Mind you I think markets should stop worrying. Certainly the US market has little to worry about as Dean Baker has argued In fact it this does have all the untoward effects that the austerity enthusiasts warn that would benefit the United States as well in even further lowering our Treasurys and making it even cheaper to buy a mortgage, etc.
On the other hand, if Mr. Tsipras is able to get his coalition and keep his campaign promises then so much the better-that means a a recovering Europe which would also benefit the US economy.
For us Americans, it's a win-win. But really, how can anyone be pushing the panic button? I mean how much worse can things get for the eu that is already in a double dip?