The results of the early parliamentary elections in Greece

Who will carry out the Greek reforms which the government of former Prime Minister Alexis Tsipras, who resigned after part of his party stood against the austerity measures, committed to in exchange for provision of a third rescue package? Greeks made the decision in early parliamentary elections, which were held on 20 September.

Pre-election forecasts gave similar chances to the leftist Syriza and the center-right New Democracy parties. It was therefore clear that ultimately the most important thing wouldn’t be who won the election formally, but who could put together a viable coalition capable of implementing the necessary reforms.

Third place was attributed in advance to the neo-Nazi Golden Dawn party. Other parties expected to gain seats in the Parliament were the socialist Pasok party, the centrist party Potami, and also the extreme left-wing Popular Unity party, which split off from Syriza, and the Independent Greeks, who were part of the coalition in Tsipras‘ government.

And the results? The following morning confirmed the victory of Syriza. Alexis Tsipras won with a fairly large margin of almost seven per cent - the count showed that he won 35.46% of votes, while the conservative New Democracy party only obtained 28.10%.

Parliamentary elections in Greece (v %)

CZ EU News Monthly Journal

The neo-Nazi party Golden Dawn finished in third place winning 6.99% of the votes cast. The socialist party Pasok received 6.28% and the Greek Communist Party got 5.55%.

The right-wing party Independent Greeks, with which Syriza is likely to again form a coalition, received 3.69% of the votes for Parliament. Together they will have a majority of three hundred parliamentary seats (145 + 75).

The centrist party Potami also advanced and the centrist union, Popular Unity, which split off from Syriza before the elections, remained below the three percent threshold to enter parliament. There was not much interest in the election itself. Only 56.57% of eligible voters participated in it, which is less than in January, when voter turnout reached 63.6%.

This document is intended as an additional information source, aimed towards our customers. It is based on the best resources available to the authors at press time. The information and data sources utilised are deemed reliable, however, Erste Bank Sparkassen (CR) and affiliates do not take any responsibility for accuracy nor completeness of the information contained herein. This document is neither an offer nor an invitation to buy or sell any securities.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD retreats from daily highs, holds above 1.0800

EUR/USD retreats from daily highs, holds above 1.0800

EUR/USD loses traction but holds above 1.0800 after touching its highest level in three weeks above 1.0840. Nonfarm Payrolls in the US rose more than expected in June but downward revisions to May and April don't allow the USD to gather strength.

EUR/USD News

GBP/USD struggles to hold above 1.2800 after US jobs data

GBP/USD struggles to hold above 1.2800 after US jobs data

GBP/USD spiked above 1.2800 with the immediate reaction to the mixed US jobs report but retreated below this level. Nonfarm Payrolls in the US rose 206,000 in June. The Unemployment Rate ticked up to 4.1% and annual wage inflation declined to 3.9%. 

GBP/USD News

Gold approaches $2,380 on robust NFP data

Gold approaches $2,380 on robust NFP data

Gold intensifies the bullish stance for the day, rising to the vicinity of the $2,380 region following the publication of the US labour market report for the month of June. The benchmark 10-year US Treasury bond yield stays deep in the red near 4.3%, helping XAU/USD push higher.

Gold News

Crypto Today: Bitcoin, Ethereum and Ripple lose key support levels, extend declines on Friday

Crypto Today: Bitcoin, Ethereum and Ripple lose key support levels, extend declines on Friday

Crypto market lost nearly 6% in market capitalization, down to $2.121 trillion. Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) erased recent gains from 2024. 

Read more

French Elections Preview: Euro to “sell the fact” on a hung parliament scenario Premium

French Elections Preview: Euro to “sell the fact” on a hung parliament scenario

Investors expect Frances's second round of parliamentary elections to end with a hung parliament. Keeping extremists out of power is priced in and could result in profit-taking on Euro gains. 

Read more

Majors

Cryptocurrencies

Signatures