Greece will stay in Euro alliance

The New Democracy Party took the majority during the weekend elections in Greece, and while they will have to share power with the socialist-leaning Pasok party, the results mean Greece will remain in the European Union and the Euro, despite recent troubles.

The challenge is that Pasok will likely resist necessary austerity measures to staunch the economic bleeding taking place in the Greek economy. New Democracy, a center-right party, favors a solution that is a combination of bailout and austerity, but the going will be rough as their party failed to dominate the election cycle by a clear enough majority to set the agenda.

That likely means compromises with Pasok in order to simply maintain a hold on power. Ugh. Maybe the news isn’t so good after all.

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