SYRIZA Determined to Seek Renegotiation of Greek Debt

Parties in the newly elected Greek government formed by left-wing SYRIZA and right wing ANEL have agreed to firmly oppose the austerity measures regarding the country's imminent debt payments.

The coalition has reiterated its willingness to renegotiate the EUR 240 B Greek debt.

"Nobody believes that the Greek debt is sustainable," chief economics spokesman for the victorious SYRIZA party Euclid Tsakalotos has told the BBC. He further stated that if Greece is removed from the Eurozone, the Eurozone will collapse.

Meanwhile, director of the International Monetary Fund Christine Lagarde announced the organization's support for Greece and its new government on Monday.

Eurogroup President Jeroen Dijsselbloem also said in a press conference following the group's meeting on Monday, that he expected to work with the new Greek government in the same way as he has with the previous one. He added that it is still too early to say what "their intentions and ambitions are in the short term'', as reported by euronews.com.

Dijsselbloem also stated that options for renegotiation of debt will be resorted to ''only if necessary''.