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Greece goes Marxist

A coalition of socialists, greens, and other leftists are expected to take 36.5% of the vote and gain nearly half of the 300 seats in parliament. They ran as a cartel called Coalition of the Radical Left [SYRIZA].

SYRIZA campaigned on a platform of “re-negotiating” debt payments on the $240 Billion Euro EU bailout and reversing austerity measures. Moves that could end the EU as we know it.

The far-right Golden Dawn is expected to take 17 or 18 seats with 6.3% of the vote. The right-wing Independent Greeks took about 4.8%.

The right-wing Popular Orthodox Rally, which once held seats in the EU, is not expected to make the 3% threshold.

SYRIZA is expected to form a coalition with the center-left POTAMI party, which will take around 4.8% of the vote.

The value of the Euro has been on the decline for months. It could take another dive tomorrow.

The term “Grexit” is being used for a possible Greek default of loan payments and a removal of Greece from the Eurozone. This means Greece would no longer use the Euro currency.