The country’s second general election in just over a month saw the gap between the two largest parties widen marginally, a sign of optimism for a sustained economic recovery against a backdrop of political stability
New Democracy party raced to an expected victory in a general election held on June 25th. With all but a handful of the votes counted, it had captured 40.6% of the vote to win a second four-year term. The radical left-wing Syriza party trailed a far-distant second with 17.8%.
The conservatives, led by Kyriakos Mitsotakis—who was prime minister until last month, when he made way for an interim leader following an inconclusive election—picked up 50 bonus seats under a new version of Greece’s proportional electoral system. That gives Mr Mitsotakis a overall majority of eight seats in the 300-member parliament. Eight parties are set to enter the new parliament.
Disasters like the shipwreck off western Greece earlier this month with the presumed loss of several hundred Pakistani and Syrian asylum-seekers, which has triggered claims that the Greek coastguard was negligent; or the train accident in February, in which more than 50 mostly young Greeks died following a signalling error, appear to have been brushed aside.
Once a poster-child for Europe’s radical left, Mr Tsipras pushed Greece to the brink of leaving the euro, then reversed course and carried out harsh but effective measures imposed by Brussels, preparing the way for Mr Mitsotakis to steer Greece back to normality.
Mr Mitsotakis is expected to appoint his new cabinet early this week. Those close to him promise “a tsunami” of Greek and foreign investment in his second term to help Greece catch up with its central Europeanpartners. But there are warning signs, too: several economists noted last week that Athens is already in the grip of a property bubble. Prices have almost reached levels last seen in 2008 before the global financial crash. The new government will need to tread cautiously.
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