Gamble pays off for Tsipras as Syriza wins national vote
A jubilant Alexis Tsipras vowed to continue fighting for his country’s pride and to quickly form a coalition government after his left-wing Syriza party on Sunday comfortably won Greece’s third national vote this year.
The result was a resounding success for Tsipras’ high-risk gamble when he resigned as prime minister last month and triggered an early election, barely seven months into his four-year term, to face down a rebellion in his party over his policy U-turn to accept painful austerity measures in return for Greece’s third international bailout.
With 66 per cent of the vote counted, Syriza had 35.4 per cent and 145 seats in the 300-member parliament, followed by the conservative New Democracy, 28.3 per cent, and the Nazi-inspired Golden Dawn, seven per cent.
Abstention, at nearly 45 per cent, was high in a country that historically has a strong voter turnout.
It was the third time this year Greeks have voted, after the January election and a July referendum on creditor reform proposals.
Tsipras said he would form a government with his previous coalition partner, the right-wing Independent Greeks of Panos Kammenos, who joined him on stage to rapturous applause from dancing, cheering supporters in Athens.
“I thank you from the bottom of my heart for this great victory, a clear victory, a victory of the people,” said Tsipras, 41. “I feel vindicated because the Greek people gave us a clear mandate to continue our struggle, inside and outside the country to lift our country’s pride.”
He vowed to govern for a full four-year term — something few Greek governments have managed, particularly since the country became dependent on international bailouts five years ago. There have been six governments and four parliamentary elections since 2009.
New Democracy head Vangelis Meimarakis conceded defeat soon after exit polls showed a clear Syriza victory.
The new government has little time to waste. Creditors are expected to review progress of reforms as part of next month’s bailout. The government also has to draft the 2016 budget, overhaul the pension system, raise taxes, carry out privatizations and merge social security funds.
It must also oversee a critical bank recapitalization program.
Sunday’s result, with Syriza able to form a government with the Independent Greeks and without need to recourse to more eurofriendly centrist parties is one “Tsipras will likely feel somewhat emboldened by,” said Malcolm Barr of J.P. Morgan.
“The choice appears to have been made that, when push comes to shove, Syriza will opt to keep Greece in the euro. But we note this result provides a platform upon which Syriza will continue to challenge significant parts of the (bailout) program.”
Tsipras has clearly stated he disagreed with the spending cuts and tax hikes demanded by Greece’s European creditors in return for the new bailout, a three-year package worth 86 billion euros ($130 billion). But he argued that, without it, Greece faced bankruptcy and a potentially disastrous exit from the euro
His party supporters were more forgiving than the hardliners.
“He’s young. We had been voting for the others for 40 years,” said Eva Vasilopoulou. “We’re giving (him) a second chance. He is pure, and smart, and I hope that he will govern for many years.”
Others said they appreciated Tsipras for his honesty.