Exit and opinion polls show the two main paries running neck and neck. Reuters says a joint exit poll from five pollsters shows New Democracy getting 27.5-30.5% of vote, leftist Syriza at 27-30%. The KKE 5.5 Skai TV opinion poll shows Syrzia at 28% and New Democracy at 27.5%. The Democratic Left are at around 7.5% as are the rightist Independent Greeks. The fascist Golden Dawn trail everyone else with only 5.5%, down from it’s 7% showing in the first election.
Update Tweeted by James Mates, Europe Editor for Britain’s ITV News: “Skai TV gives first seat projections from their exit polls: Syriza 28% 124 seats, ND, 27.5% 73 seats, Pasok 13% 33 seats.”
Update 2 Syriza concedes – but still a remarkable achievment for a party that polled only 4.2% two years ago. The European neoliberal economic consensus is thankfully dead, and the Greek left have been essential in that.
Read this piece from the Guardian’s Andrew Rawnsley on how the UK government are quaking in fear over the EU asteroid, wondering if it will hit or not.
The Bank of England and the Treasury have conducted war games on what would happen in the event of the ultimate euro crisis: one or more of its members falling out of the currency. In the most optimistic scenario, the only departure is Greece and the exit is reasonably well-ordered. The damage is relatively limited as the European authorities successfully prevent contagion from spreading to consume other countries. In the blackest scenarios, the consequences of a Grexit are cataclysmic. It sparks a firestorm that engulfs all the euro-debtor nations. When the flames begin to devour Italy, even the financial clout of Germany is not sufficient to contain the conflagration. There are multiple bank collapses across Europe, including Britain, which make the crash of 2008 look like a mere hiccup in capitalism.
What makes these exercises even more scary for their participants is that they know that their war gaming is only an educated guess about the shape of the apocalypse. Even a controlled Greek exit would be pregnant with considerable perils.
Of course, Syrzia says there’s no reason why Greece should quit the Euro if only the fat cats will listen to reason and ren egotiate their draconian terms. Interesting times.
BBC, June 17
The leader of the centre-right New Democracy party in Greece, Antonis Samaras, has claimed victory in an election that could determine whether the country remains a member of the euro.
He said Greeks had expressed their will to remain an integral part of the eurozone and honour the country’s commitments.
He called the win “a victory for all Europe”.
Video at the link.
Greek leftist tells rivals to form govt without them
Reuters, June 17
Athens – Greece’s radical leftist SYRIZA bloc conceded defeat on Sunday but vowed to continue its fight against the punishing terms of an EU/IMF bailout saving the country from bankruptcy.
“From Monday, we will continue the fight,” SYRIZA leader Alexis Tsipras told supporters. “A new day for Greece has already dawned.”
Greek voters back pro-bailout party
AP, June 17
Athens – The pro-bailout New Democracy party came in first Sunday in Greece’s national election and could gather enough support to form a pro-bailout coalition to keep the country in the eurozone.
As central banks stood ready to intervene in case of financial turmoil, Greece held its second national election in just six weeks to try to select a new government after an inconclusive ballot on May 6.
Sunday’s vote was seen as crucial for Europe and the world, since it could determine whether Greece is forced to leave the joint euro currency, a move that could have potentially catastrophic consequences for other ailing European nations and the global economy.
Although official projections late Sunday showed that no party will win enough seats in the 300-member parliament to form a government on its own, Greece’s two traditional parties — the conservative New Democracy and the socialist PASOK — would have enough seats to form a coalition together.
They have both expressed a willingness to work with other European nations to stay in the 17-nation eurozone.
it’s clear ND was going to have to win
How much time does it buy them? How much time does it buy Europe? (Or will Spain, etc. just overtake the Greece situation)?
Greek election plot thickens as PASOK not willing to form government without Syriza
FXstreet.com, June 17
Barcelona – Just when media outlets were starting to speculate on a possible pro-bailout coalition government outcome after the final results of exit polls, it looks like thing may start to turn ugly after this incendiary tweet from EU correspondent for Kathimerini Greek Daily, Mr. Kostas Karkagiannis, who said “Pasok won’t participate in a coalition government without syriza. Good night and good luck.”
Further reports have come out that PASOK may not be up to form the pro-bailout coalition government unless the leftists of SYRIZA jumps also on board. While this is very disturbing and shows it will be a long night, it is the tricks of politics.
Further reports have come out that PASOK may not be up to form the pro-bailout coalition government unless the leftists of SYRIZA jumps also on board. While this is very disturbing and shows it will be a long night, it is the tricks of politics.
Via/Also, Zero Hedge: Pasok Throws A Monkey Wrench Into Coalition Discussions