The AP reports that the New Democracy party came in first in
Greece's election today and immediately proposed forming a pro-euro coalition
government — a development that eased, at least briefly, deep fears that the
vote would unleash an economic tsunami.
Today's vote was seen as crucial for Europe and the world,
since it could determine whether Greece was forced to leave the joint euro
currency, a move that could have potentially catastrophic consequences for
other ailing European nations and the global economy. As central banks stood
ready to intervene in case of financial turmoil, Greece held its second
national election in six weeks after an inconclusive ballot on May 6.
With 37.4 percent of the vote counted, official results
showed the conservative New Democracy with 30.5 percent of the vote, ahead of
the radical anti-bailout Syriza party's 26 percent and the pro-bailout
Socialist PASOK with 12.9 percent. Although
official projections late today showed that no party will win enough seats in
the 300-member parliament to form a government on its own, Greece's two
traditional parties — New Democracy and PASOK — will have enough seats to form
a coalition together.
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