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VICTORY! Conservative New Democracy party sweeps Greek elections

Fears of Greece seceding from the euro are momentarily quelled

The economic world can stop holding its breath - for the time being. The New Democracy Party, a conservative political faction has swept the elections in Greece, that many fear would have left the euro other wise. For Greece to leave the ailing euro system would be disastrous for Europe, the United States and eventually the entire world. These fears were allayed when the New Democracy party came first in a critical election. Pro-bailout parties had also won enough seats to form a joint government.

New Democracy leader Antonis Samaras has vowed to renegotiate some of the bailout's harsher terms, but says his top priority is for the country to remain in Europe's joint currency. He advocates keeping the euro and not returning to Greece's old currency, the drachma.

New Democracy leader Antonis Samaras has vowed to renegotiate some of the bailout's harsher terms, but says his top priority is for the country to remain in Europe's joint currency. He advocates keeping the euro and not returning to Greece's old currency, the drachma.

LOS ANGELES, CA (Catholic Online) - Holding its second national election in six weeks after inconclusive results last month, Greek central banks stood ready to intervene in case of financial turmoil. The radical Syriza party had advocated declining Greece's multibillion-euro bailout deal.

The election was seen by many in the world community on whether Greece should stay in the 17-nation joint euro currency. With 82.5 percent of the vote counted, official results showed New Democracy winning 30 percent and 130 of the 300 seats in Parliament. The Syriza party had 26.6 percent and 71 seats and the pro-bailout Socialist PASOK party came in third with 12.5 percent of the vote and 33 seats.

In addition, the anti-immigrant nationalist Golden Dawn party had 6.9 percent and 18 seats, while the Democratic left won 6.1 percent and 18 seats.

All of these parties, with radically differing ideologies have drastic opposing views about what to do about the $300 billion in bailout loans that Greece has been given by international lenders, coupled with the harsh austerity measures that previous Greek governments had to accept to get the funds.

New Democracy leader Antonis Samaras has vowed to renegotiate some of the bailout's harsher terms, but says his top priority is for the country to remain in Europe's joint currency. He advocates keeping the euro and not returning to Greece's old currency, the drachma.

"The Greek people today voted for Greece to remain on its European path and in the eurozone," Samaras said. "(Voters chose) policies that will bring jobs, growth, justice and security."

The party that comes in first, New Democracy gets the first stab at forming a new majority in Parliament. If they fail, the next highest party gets to try.

PASOK's Evangelos Venizelos has suggested dumping the practice of each party seeking coalition partners. He said a government must be formed quickly and suggested one between New Democracy, Syriza, PASOK and the small Democratic Left.

"There is not one day to lose. There is no room for party games. If we want Greece to really remain in the euro and get out of the crisis to the benefit of every Greek government, it must have a government tomorrow," Venizelos said.

© 2012, Catholic Online. Distributed by NEWS CONSORTIUM.

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Keywords: New Democracy Party, Greece, elections, bailout, euro, Syriza

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1 - 4 of 4 Comments

  1. Katherine
    10 months ago

    Without any mention of life or Catholic issues, the headline proclaims "victory" because a conservative party has one (who knows what being Greek conservative means?). This only leads to dismissing Catholic Online as a Republican front group.

  2. Theresa H
    11 months ago

    While it appears that "democracy" won in Greece, it was/is not by an "absolute majority" which, it seems to me will be a problem. (A country divided will not stand; in time, it will disintegrate.) Hopefully, the new leader, with his "30%" (more-or-less) "victory" can rally more of the people to his side via prudent (just and right) decisions!

  3. MikeMay
    11 months ago

    Here is a video about this election that has good advice for Greece. http://www.youtube.com/watch?v=dOUIexPG5Ws&feature=relmfu

  4. MikeMay
    11 months ago

    Looks like a Loss to me. Greece will be forever enslaved to the debt money system as long as they stay in the euro. They should get out of the euro, issue their own currency based on population (strict amount per person no more no less) not on gold, oil, or any commodity, to never use a private central bank instead print debt free money at no interest, and enact a law for the federal gov. to never borrow money. This is the only solution that would work other wise Greece and all other nations using Central Bank debt money systems are doomed to fail. Watch the "Money as Debt" series and "The Secret of Oz".

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