Europe’s wheels ‘Greeced’ for recovery?

Caroline Spelman, MP for the Meriden Constituency, spoke of her concern about the result of the Greek election where the far-left, populist Syriza party have formed a coalition with the centre-right party, Independent Greeks. Uncertainty over how this will impact the Eurozone has translated into a caustious financial market.

 

Europe's main share markets rose - after initial falls - on hopes that a compromise over Greece's bailout terms might be found. There is ongoing debate about whether Greece's excessive debts will be written-off.

 

Caroline Spelman commented, ‘The Greek election will increase economic uncertainty across Europe and reinforces the importance in Britain of sticking to the plan that is delivering economic security at home. And it shows that you can only keep the public’s confidence if you have a long-term economic plan that works. Unlike the Eurozone, we’ve got an economy that’s creating jobs and opportunities because we have pursued a clear long-term plan to confront our economic problems.’