Euro hits historical minimum

Euro hits historical minimum
# 26 January 2015 10:48 (UTC +04:00)

Baku. Musa Ahmadov - APA-Economics. The euro has fallen sharply against the dollar after the anti-austerity Syriza party won the Greek general election. The euro fell as low as $1.1098 - the lowest level against the dollar in more than 12 years.

In Azerbaijan, the euro is sold for AZN 0.877.

The result surpassed pollster predictions and marginalised the two mainstream parties that have run the country since the military junta’s fall in 1974. It appeared, however, that Syriza won 149 seats – just short of securing the 151 of 300 seats that would enable Alexis Tsipras to govern without coalition partners.

Syriza leader Alexis Tsipras has pledged to renegotiate the terms of Greece's €240bn bailout and reverse many of the austerity cuts.

But he said that he wanted negotiation, not confrontation, with Greece's international lenders.

"The new Greek government will be ready to co-operate and negotiate for the first time with our peers a just, mutually beneficial and viable solution," Mr Tsipras said.

The troika of lenders that bailed out Greece - the European Union, European Central Bank, and International Monetary Fund - imposed big budgetary cuts and restructuring in return for the money.

But Mr Tsipras said: "The troika for Greece is the thing of the past."

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