Greece's New Leader Vows to Avert Fatal Clash With Creditors; Greek Markets Sink Further

Greek Prime Minister Alexis Tsipras and his finance chief pledged to avoid a standoff with creditors as stock and bond markets tumbled on the prospect of a prolonged fight with fellow European governments.

“There will neither be a catastrophic clash, nor will continued kowtowing be accepted,” Tsipras, 40, said on Wednesday, in comments broadcast live. The new Greek leadership “will not be forgiven” if it betrays its pre-election pledges to renegotiate the terms of the country’s bailout, he said.