Syriza Initiates Dramatic Changes in Greece

Less than 48 hours after being sworn in as Greek Prime Minister, Syriza leader Alexis Tsipras has begun to invoke a series of radical changes.

Early Wednesday morning, Energy Minister Panagiotis Lafazanis announced a freeze on the privatization of Greece's key power plant. The government is still majority stakeholder.

“We will halt immediately any privatization of PPC (Public Power Corporation),” Lafazanis said to Greek TV.

And while restructuring the country's bailout deal and ending austerity are high on the agenda, Tsipras outlined in his first cabinet meeting social reforms to solve what the party refers to as the “humanitarian crisis.”

“The people demand we bleed in order to defend their dignity,” he said, before Giorgos Katrougalos, alternate minister for administrative reform, revealed that some planned public sector job cuts would be scrapped, as they were “against the constitution,” Reuters reports.

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Furthermore, the left-wing party has either announced or started to implement other symbolic, but significant policies, including: granting Greek citizenship to all children of immigrants born in Greece; canceling exams at two grades of secondary school; and reinstating the students who have been removed from higher education (often mature students, who study while working) because they haven't met the deadlines to pass their exams imposed by a recent law.

"We are coming in to radically change the way that policies and administration are conducted in this country," Tsipras told ministers at the cabinet meeting.

The change in course for the Mediterranean country has sparked a sharp fall in Greek shares, led by banks opposed to the new measures. 

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