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Iglesias Says EU Risking Right-Wing Backlash With Greek Pressure

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(Bloomberg) -- Greece needs prosperity to be able to pay off its debt and this poses a challenge for European democracy, according to Pablo Iglesias, leader of Spain's Podemos party. He spoke in an interview with Bloomberg at his office at the European Parliament in Strasbourg Wednesday. (Source: Bloomberg)

The euro area risks fueling extremist nationalist groups with its hard-line approach to negotiations with Prime Minister Alexis Tsipras, according to the Greek premier’s Spanish ally, Pablo Iglesias.

If Greeks don’t win relief from the euro area’s austerity program through Tsipras’s plan to write down the country’s debts and boost government spending, they may embrace the Golden Dawn party instead, according to Iglesias, who leads the Spanish anti-austerity group Podemos and is a lawmaker in the European Parliament.