— This is the script of CNBC's news report for China's CCTV on January 26, Monday.
The risk of a sovereign default in Greece has increased after the anti-austerity Syriza party won Sunday's snap elections, analysts say, noting that anxiety over the possibility that Greece will exit the euro zone will keep global markets nervous. The winning party's leader Alexis Tsipras promised that five years of austerity, "humiliation and suffering" imposed by international creditors were over after his Syriza party swept to victory in a snap election on Sunday.
[ALEXIS TSIPRAS / SYRIZA PARTY LEADER] "Greece is turning a page, Greece is leaving behind catastrophic austerity, it is leaving behind the fear and the autocracy, it is leaving behind five years of humiliation and pain."
Greece owes more than $350 billion to government institutions and investors. The country also faces a 3.5 billion euro bond coming due this July and another 3 billion in August. Syriza members told CNBC on Sunday that the party's top priority is to win a dramatic easing of its repayment terms.
[Jeff Halley / Saxo Capital Markets] "I think they are pretty high right now. They are above 40% now Looking at some of the headlines from new PM this morning he was pretty determined and i think troika era is over for greece. bi-lateral agreement in place for Greece."
While Tsipras fell just short of an overall majority, he is set to lead the first euro zone government committed to overturning the kind of budgetary rigor that was imposed on Greece as a condition of the bailout in 2010.
[STEFAN AUER / University of Hong Kong] "It's not just about the EU, it's about the european currency right? They're determined to stay in the eurozone and I cannot see how they can stay in the eurozone if they truly deliver on what they promise the people."
[TAIMUR BAIG / Chief Economist, Asia, Deutsche Bank] "I think that the eventuality of something like this 2 years ago would have been very disruptive. we;ve had a lot of friewalls built within the eurozone area and we have a very proactive central bank now so I think the abilityof the eurozone to take a hit, he worse case scenario which is a greek -exit, even that is there. So I think that to some extent, the pricing in of an extreme event is there."
CNBC Qian Chen, reporting from Singapore.
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