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Coalition government in Greece

26/01/2015 06:41
Greece is led to the creation of a coalition government after the victory of SYRIZA, which came short of achieving majority by two seats.

Alexis Tsipras’ party received 36.34% and 149 seats and is expected to cooperate with the Independent Greeks’ party (4.75% and 13 seats) or the River (6.05% and 17 seats) to form the first government after the Greek junta without New Democracy and PASOK.

Antonis Samaras’ New Democracy received 27.81%, almost two percentage points less than the percentage the party had received in the elections of June 2012, which was not enough to overturn the scene in Greece.

PASOK collapsed taking 4.78% or 13 seats compared with 12.3% and 33 seats in 2012.
The Communist Party received 5.47% and 15 seats, improving its rates.
Golden Dawn took the third place with 6.28% and 17 seats.

Yesterday's statements by leaders of political parties suggested that Mr. Tsipras’s potential partners will be the Independent Greeks and the River. The River, however, made clear that it would not participate in a government in which the Independent Greeks are involved.

In his speech after the election victory Mr. Tsipras said the verdict of the Greek people puts an end to the Memoranda of destruction.

"The verdict puts troika in the past for the common european framework" he said.

The renegotiation of the key terms of the loan agreement between Greece and its partners and the International Monetary Fund is a key point of SYRIZA’s program.

Greece needs to refinance debts close to € 30 billion, within the next two years, some of which are due in the next six months. The four major Greek banks' liquidity is also dependent upon the European Central Bank.

Most of the Greek commentators referred to a compromise with Greece’s partners last night, which is uncertain, however, that it will be achieved, given the negative attitude of Germany in a possible debt reduction but also the stated position of the orthodox left tendency in SYRIZA to not accept anything less.