Receive Breaking News updates as they occur
The Greek election result is not a defeat of austerity but a defeat of failed economic plans and should act as a reminder to Britain that it needs to stick to what it is doing, Chancellor George Osborne said on Monday. Greek leftist leader Alexis Tsipras and his Syriza party swept to victory in a snap election on Sunday, promising that five years of austerity, "humiliation and suffering" imposed by international creditors were over. "People get tired of economic failure, they tired of rising unemployment ... what you see is not a defeat of austerity, it is a defeat of economic plans that don't work and in Britain we have got an economic plan that is working," Osborne told BBC radio.
ATHENS, Greece (AP) — Greece's left-wing Syriza party prepared to launch coalition talks Monday, hours after a landmark general election victory fought on a pledge to rewrite the country's massive bailout deal with the eurozone.