The European Union's stranglehold on Greek finance is almost total, so a Syriza victory will either require debt renegotiation with Germany's leader, Angela Merkel, or it will result in the expulsion of Greece from the Euro. The space for compromise is not great. Syriza advisors claim that there will be some reserves and capital available for the first months after the election, and that this will enable a new government to start investment and social spending. However, by the summer the demands of European financiers will directly clash with the new government. Then the Greek drama will become European and global one.

Tsipras argues that it is possible to remain inside the Euro and to renegotiate but he admits that the leverage is limited. His main "bargaining chip" is the threat of a Greek exit, which may lead to a break-up of the Euro and the collapse of the European Union itself. He explains that the demands imposed on European governments, to enforce austerity, have, to date, been completely unopposed. He promises that this will change next week. Tsipras wants a Syriza government to bargain with Germany based on an equal relationship. He says, "There are no landlords and tenants in the European Union." Even though that does not correspond with the view held in Berlin, it does find resonance with millions of people all over Europe.

Many observers expect Syriza to capitulate to its lenders, but Tsipras denies that he will abandon his mission to change European economic policies. He explains, "I believe Syriza can be the spark that sets the field alight. We are at the tail end of the existing neo-liberal capitalism. The crisis is not coincidental. It is a structural crisis of capitalism and of its neo-liberal model."

The writer is a columnist with China.org.cn. For more information please visit: http://china.org.cn/opinion/heikokhoo.htm

Opinion articles reflect the views of their authors, not necessarily those of China.org.cn.

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