What does “left-wing” and “anti-austerity” mean in Greece if they can’t print or borrow money?

The New York Times has a story about how a party they characterize as “left-wing” and “anti-austerity” has won an election in Greece. Given that the country does not have its own currency, what can such a party do as a practical matter? If they can’t print money because other nations control the Euro and they can’t borrow because investors won’t lend more, what can these new leaders do?

Philip Greenspun’s Weblog

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