I heard about this. I think you have heard of the austerity measures in place in Greece right? Basically Euro bank people forced Greece to cut social security, welfare, etc to the people, I think drop taxes (to "encourage business"), and other changes meant to reduce debt, in return the Euro guys would keep the Greek government afloat.
Right now Greece has something like 33% unemployment and 55% of people living below the poverty line. To give you context- Australia currently has around 6% unemployment and people think that is too high. US is around 5.5% unemployment I think?
What this new government wants to do is roughly this: end Euro bank support. This means they plan to default (aka declare bankruptcy), raise taxes (especially on corporations and the rich), increase social spending (welfare and social assistance) and start spending money on infrastructure projects to create jobs. Basically they plan to do what the people want, and the opposite of what the banks say will work.
Since Greek economy is already destroyed, bankruptcy will only have an impact on foreign debt loan rates and, in the short term, trade. Rich people will complain loudly but they will get over it.
I predict within 3 years the country will be on the up, and if they don't go too extreme to the left, Greece will be stable and healthy in 10 years. Short term, well it ain't going to be pretty, but change always rocks the boat.
