Monday, May 7, 2012

This is why the Greek Bailouts will fail and the Euro zone will break up.




(Updates with final figures)
 ATHENS, May 7 (Reuters) - Greece's conservative New
Democracy party and Socialist rival PASOK have failed to win a
majority in parliament, according to the final results of a
general election held on Sunday. 
 The results, announced by the Speaker of the outgoing
parliament Philippos Petsalnikos, showed the two pro-bailout
parties winning just 149 out of 300 seats, falling two seats
short of an absolute majority. 
 New Democracy was the biggest party, garnering almost 19
percent of the vote. PASOK was in third place, trailing the
anti-bailout Left Coalition party. 
 
 Party  ND     L.C.   PASOK   I.G    KKE   G.D   Dem.
                                              Left
 %      18.85  16.78  13.18   10.6   8.48  6.97  6.1
 Seats  108    52     41      33     26    21    19
  
*New Democracy: conservative party  
*PASOK: Panhellenic Socialist Movement  
*L.C.: Left Coalition  
*KKE: Greek Communist Party  
*Dem.Left: Democratic Left  
*I.G.: Independent Greeks  
*G.D.: Golden Dawn (ultra-nationalist)  
  
** 151 seats are needed for an absolute majority in the
300-member body. The party that places first in the election
automatically gets an extra 50 seats to make it easier to reach
the target of 151 seats needed to form a government. 
  
 For more stories on Greece's election, please click on:
  
 
 (Reporting by Athens bureau, editing by Mike Peacock) 
 

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