A new day dawns for Greece - Eurozone crisis

The election of an anti-austerity party to power in Greece may seem at first as if the lunatics have taken over the asylum whereas it could be the very thing to bring sanity to European Union finances. The election result should come as no surprise, considering that more than a quarter of the Greek population is without a job and youth unemployment remains above 50%.

Every EU state needs to take heed of the election result and ensure that everything is done to allow Greece remain within the eurozone.

The euro is already under pressure, lying at an 11-year low against the US dollar and approaching par with the Swiss franc. That is good news for Irish exporters, of course, as it will make their products better value for their customers but it could spell ruin for importers.