Pro bailout parties win


The two establishment parties who are also the two parties campaigning for a continuation of the EU/IMF bailout won a slim majority in yesterday’s general election.

The centre right New Democracy (ND) came top with 129 seats, that improves on their 108 seats in the 6th May election. The Panhellenic Socialist Movement (PASOK) dropped from 41 seats on 6th May to 33 seats yesterday, but if they can do a deal with New Democracy the two parties will have an 11 seat majority in the Hellenic Parliament.

The largest of the anti-bailout parties, the Coalition of the Radical Left (SYRIZA) increased their number of seats from 52 on 6th May to 71 seats yesterday. Their leader, Alexis Tsipras has already said that they will go into opposition.

Other parties to win seats included the Independent Greeks (ANEL) who dropped from 33 seats on 6th May to 20 seats yesterday. Golden Dawn the right wing nationalists dropped from 21 seats to 18 seats, the Democratic Left (DIMAR) dropped from 19 to 17 seats and the Communist Party of Greece (KKE) dropped from 26 to 12 seats.

Turnout was 62.47%

President Karolos Papoulias will meet the New Democracy Leader, Antonis Samaras at 12.30 p.m. local time today and will, presumably, ask him to form a government.

Markets across the world have risen on the back of the news.

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