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Tsipras’ SYRIZA Leads the Pack in Greek Elections

Yesterday elections for Greek parliament took place for the second time this year. After the counting of half of the votes cast, Alexis Tsipras’s SYRIZA party are looking like they’ll hang on to power with 35.54% of the votes. The party could take 145 of 300 parliamentary seats. The closest rival to SYRIZA at this stage is the New Democracy party which has received 28.7% of votes and could end up with 75 seats.

The Independent Greeks, a party which shares SYRIZA’s political stance has gained some seats with 3.7% of votes according to preliminary calculations. More than likely, Tsipras will have to create a coalition with this party.

On the whole, the results were what were predicted with Tsipras, despite the deal made with European creditors, remaining the most popular parliamentarian in the country. The political line is still the same: he still needs to push ahead the serious reforms needed with regards to pensions and taxation, as well as the privatization and restructuring of banking systems. He also needs to lessen the country’s debt burden with write-offs, something, so far, his European partners have not agreed to.


Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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