Grief in Greece

In what may be the strongest challenge ever to the euro zone and the EU, the Greeks have elected a government that opposes the austerity and high taxes demanded by its creditors. See the Reuters story on Yahoo News for details.

The decisive victory by Tsipras' Syriza in Sunday's snap election reignites fears of new financial troubles in the country that set off the regional crisis in 2009. It is also the first time a member of the 19-nation euro zone will be led by parties rejecting German-backed austerity.

Tsipras' success is likely to empower Europe's fringe parties, including other anti-austerity movements across the region's economically-depressed south.

They'll be watching closely in economically suffering Spain and Italy.