Courtesy of Mish.
Syriza party leader Alexis Tsipras who resigned in the wake of his cave-in to the troika is back in office following Sunday’s snap elections.
The election was supposed to be extremely close, but it wasn’t.
Greek polls are notoriously unreliable. Tsipras won his first election by a huge vote even though polls were close. On Sunday the result was the same.
Pollsters had New Democracy running neck-and-neck but in a low turnout Syriza received 35.5 per cent of the vote to 28 percent for New Democracy.
Greek election rules give a huge block of parliament to the plurality vote, so in parliament the score is 145-75 out of a total of 300.
145 is short of a majority, but close enough so Tsipras can form a coalition with the Independent Greeks party (Anel), just as Syriza did after the last election.
Syria Wins Again
145 + 10 = 5 seat majority.
Whether the coalition proves stable is anyone’s guess.
The Financial Times provided the above chart (purple highlights mine) and this commentary.
Alexis Tsipras’s radical left Syriza party secured a clear victory in Sunday’s Greek general election, suggesting his gamble on snap elections after striking a deal on a new €86bn bailout had paid off….
