Published: Tue, July 09, 2019
Worldwide | By Lisa Hogan

Greek conservatives win first post bailout general elections

Greek conservatives win first post bailout general elections

Fearful of alienating Greek civil servants and their families - who account for a hefty percentage of the electorate - Mitsotakis has been forced to publicly abjure further civil servant layoffs.

Fresh Democracy has 39.85% of the vote to date, with Mr Tsipras's leftist Syriza event in second space with 31.53%.

The exit polls also predicted Mitsotakis' New Democracy party would win enough seats in Greece's 300-member parliament to form a government without needing to seek a coalition with another party. Greek bonds have returned 20 per cent in the previous year, the highest within the Eurozone, as they are considered to be illiquid junk-rated bonds.

Turnout in the election used to be about 57% - one among the bottom figures in decades. There have been a half dozen elections in recent years - and on Sunday, many residents flocked to the beaches or sheltered at home as temperatures exceeded 35 degrees Celsius in places. "You offered it generously", Mitsotakis said in his victory speech.

The pinnacle minister-elect told supporters he had been given a solid mandate for replace.

"A painful cycle has closed", Mitsotakis said in a televised address immediately following his electoral victory, adding that Greece would "proudly raise its head again" on his watch.

Outgoing Prime Minister Alexis Tsipras conceded defeat to his opponent on Sunday evening, saying "we accept the verdict of the people". "We are paying the political cost for hard decisions we made", Tsipras said during the remarks which were broadcast live on Greek national television ERT.

But while he is now glad-handed and lauded by the likes of the European commission president, Jean-Claude Juncker, who once counselled the Greek people not to listen to their young leader, back at home the ideological flexibility appears to have fallen flat with the voters.

The centre-left Stagger for Alternate is on 8.1%, adopted by the Communist Earn collectively on 5.3%.

In his firebrand rallies, the left-wing populist vowed to tear up Greece's bailout programme and end austerity.

Beneath stress from the European Union, capital controls on its banks and the specter of "Grexit" - departure from the euro - he used to be forced real into a humiliating U-turn, signing up to a third, €89bn (£80bn; $100bn) bailout, and extra austerity.

Another early voter, 82-year-old Eleni Alexopoulou-Depou, said she was supporting one of the myriad small parties.

Nonetheless he'll regroup in opposition and wait in the wings to engage on any misstep by Greece's novel chief.

Constantine also discriminated against the Greek Turks in Western Thrace.

The snap election was called after Syriza suffered a defeat in European elections in May.

Mr Tsipras faced a revolt from within his party as a result and responded by calling fresh elections, which he won.

Unemployment and a shrinking economy further damaged support.

Mr Mitsotakis plans to rapidly legislate tax cuts that will come into effect from next year to spur economic activity and show investors that Greece is creating a more friendly business environment. It was also opposed by the Kremlin, which would prefer North Macedonia to be in its sphere of influence.

What does New Democracy stand for?

New Democracy has promised to lower taxes and privatise services in the country, which is still feeling the effects of the 2008 financial crisis.

The opposition conservatives were on track to return to power by a landslide, unseating incumbent leftists blamed for foisting a bailout on the country which critics say was unnecessary.

Mr Mitsotakis' target is doubling Greece's growth rate to 4 per cent next year.

Kyriakos Mitsotakis is the son of feeble Top Minister Konstantinos Mitsotakis.

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