The American Bear

Sunshine/Lollipops

Shares on the Athens stock markets are being routed, after Alexis Tsipras (who was handed the mandate to form the next Greek government today) insisted that Greece should not abide by the terms of its bailout. The main stock index in Athens has fallen by 5%, with the banking index down by over 10%.

Eurozone crisis live: Bailout pledges ‘null and void’ says Syriza leader | guardian.co.uk

1.27pm: Alexis Tsipras (of the left-leaning Syriza Coalition) has just declared that the pledges Greece made to receive its financial aid package is null and void, and called for a moratorium (temporary halt) on Greek debt repayments.

Speaking after being granted the mandate to form a government, the Syriza leader declared that Greece’s commitments to the international community are no longer valid, now that a majority of Greek people have voted for parties which oppose the terms of the bailout.