Opinion polls show Alexis Tsipras’s SYRIZA party and Evangelos Meimarakis’s conservative New Democracy party running neck and neck ahead of Sunday’s vote. The difference between the levels of support for the two parties was within the margin of error.
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Another poll by Metron Analysis for Parapolitika shows New Democracy leading by 0.3% (at 31.9% vs. 31.6% for Syriza), an 8-party Parliament (with Independent Greeks not entering).
Elected on an anti-bailout platform in January, Tsipras eventually led Greece into a deal with global creditors on a third financial rescue.
Given that Greece’s compliance with the €86 billion bailout program is at issue, many at European Union headquarters in Brussels and in other European capitals would like to see a broad coalition emerging from the election.
“I hope that these elections will bring stability to the current situation and bring us back to normality”, said a woman.
Neither party, however, is expected to get the proportion of the vote needed – roughly 38 per cent – to gain a majority in the 300-seat parliament, meaning a coalition is a near certainty.
Any new government will have to ensure the successful conclusion of the first review of the bailout this fall to secure the first disbursement of funds under the bailout. “If Greece does not grasp it, Europe won’t send any further money and Grexit would be back on the agenda before the year is out”.
He triggered Sunday’s election by resigning in search of a stronger, more centrist mandate after some Syriza lawmakers, unable to accept his bailout U-turn, broke away to form their own party.
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With the latest general election results due on Sunday, and polls suggesting a tight race to govern the struggling euro zone economy, CNBC looks at why this could be an important vote for the country – and the single currency. “Even a bad scenario will probably be good-enough for investors in the grand scheme of things”.
