Greeks showed rejection of the traditional ruling parties of New Democracy Conservatives and PASOK Socialists who supported austerity. With 99% of the votes counted, the two traditional parties cannot even form a coalition since they did not win 151 seats (out of 300) in the Greek parliament that are necessary to form a government.
According to the Greek Ministry of Interior Affairs, seven parties enter the Greek parliament. The results are as follows:
New Democracy: 18.88 and 108 seats
SYRIZA: 16.76 and 52 seats
PASOK: 13.19 and 41 seats
Independent Greeks: 10.60 and 33 seats
Communist Party – KKE: 8.47 and 26 seats
Golden Dawn: 6.97 and 21 seats
Democratic Left: 6.10 and 19 seats
It is very unlikely that Greece will have a new government anytime soon since the collaboration of other parties with New Democracy has been rejected by most of them. According to the Greek constitution, elections will have to be repeated until a party or a coalition can form a government. The Greek elections will most likely be repeated June 17.
Greek election results were being closely watched in Europe and internationally. The Troika has said that any attempts to tinker with demanded reforms could lead to the money pipeline being shut off. Greece is surviving on a first rescue package of $152 billion in international loans and a coming second bailout of $173 billion more, but that is contingent on the new government administering more harsh measures, including $15 billion extra for beleaguered Greeks. Austerity has worsened a deep recession now in its fifth year, created 21.7 percent unemployment and led to to the closing of more than 111,000 businesses.
The elections proved to be a close thriller and showed the depth of the rage Greeks have toward austerity, but also the fears they had about being forced out of the 17 countries of the Eurozone using the euro as a currency. The Troika had warned that any attempts to tinker with austerity and more reforms, including another $15 billion in cuts it said is needed this year, would lead to the loans being shut off and Greece possibly being forced out of the Eurozone, showing the dilemma that Greeks had.
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