HUFFINGON POST: Fears of an imminent Greek exit from Europe’s joint currency receded Sunday after the conservative New Democracy party came first in a critical election and pro-bailout parties won enough seats to form a joint government…
With one party advocating ripping up Greece’s multibillion-euro bailout deal, Sunday’s election was seen as a vote on whether Greece should stay in the 17-nation group sharing the euro currency. A Greek exit would have had potentially catastrophic consequences for other ailing European nations, the United States and the entire global economy.
Near complete results showed New Democracy coming first with 29.6 percent of the vote and 129 of the 300 seats in Parliament. The radical left anti-bailout Syriza party had 26.9 percent and 71 seats and the pro-bailout Socialist PASOK party came in third with 12.3 percent of the vote and 33 seats. The extremist far-right Golden Dawn party had steady support, getting 6.9 percent of the vote and 18 seats… (more)
EDITOR: For what it may be worth, we think the results of the election are bad for Greece, bad for the EU, and bad for the USA. Austerity will not work.
