Greeks vote to stay in eurozone, easing fears

Greeks vote to stay in eurozone, easing fears

Greeks vote to stay in eurozone, easing fears

A presidential guard marches by a newspaper stand featuring news about Greece's election results in Athens June 18, 2012. REUTERS photo

Greek voters narrowly voted to stay in the eurozone on June 17, electing the right-wing New Democracy (ND) Party over the radical leftist party Syriza in what was seen as a referendum on the crisis-hit Greece’s future in the currency zone.

“The country does not have a minute to lose,” ND leader Antonis Samaras said after capturing 29.66 percent of the vote and 129 of 300 seats.

The winning party in Greek elections scores an extra 50 seats.

Syriza, which campaigned against an EU-imposed austerity package supported by ND and PASOK, finished with 26.89 percent of the vote, good for 71 seats.

The right-wing ND could form a coalition with PASOK, which won 33 seats. The result was duly hailed by EU leaders. (Greek pro-bailout parties to form coalition gov’t, easing EU fears)

Despite the vote, any hopes from other eurozone nations, Italy and Spain, that the result would ease pressure on their own debt crises were dashed yesterday as the cost of borrowing rose for both countries. (Spain, Italy find no quick relief after Greek elections)