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Why You Should Care About Greece Again

Greece is headed for yet another political crisis. The fallout will be a critical test case for the rest of Europe
Riot police carry shields past tourists outside the Parliament following a final vote by lawmakers for a new Greek president in Athens on Dec. 29, 2014

Riot police carry shields past tourists outside the Parliament following a final vote by lawmakers for a new Greek president in Athens on Dec. 29, 2014

Kostas Tsironis/Bloomberg
Natalie Kitroeff and Joseph Weisenthal

Greece is headed for yet another political crisis. On Monday the Greek Parliament rejected the prime minister’s nominee for president, forcing the country into early general elections on Jan. 25. The fallout of this round of turmoil will be a critical sign of whether European leaders can hold on to power long enough to stay the course on the fiscal reforms needed to lift economies in the region. The upheaval comes just four years after the country accepted its first international bailout and almost single-handedly sent the global economy into a tailspin. 

Remind me why Greece freaked everyone out last time?