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25 Jan 2015
Greek election: Projections show Syzira as winner, absolute majority up in the air
FXStreet (Bali) - Polls out of Greece show anti-bailout party Syriza ahead with a solid lead against its main opposition, with Reuters now reporting Greek Prime Minister Antonis Samaras calling Syriza leader Alexis Tsipras the winner in Sunday’s snap election, although an absolute majority is still debatable.
The latest exit poll from ANT1 TV suggests Syriza's lead to have expanded to over 10 points, an advantage wide enough to assume that an election victory is all but certain. Projections shows Syriza gathering over 36-38% of the popular vote, with the current ruling New Democracy party at 26-28%.
The key question now is whether or now Syriza will achieve a majority in the 300-seat Parliament, with the need to obtain at least 150 seats critical. Should Syriza gain an absolute majority, talk over a possible Grexit will intensify given the party's hard-line stance against Greece's current bailout terms and other tough measures implemented by the Troika in recent times.
Should Syriza emerge victorious with a majority in parliament - worst case scenario for the European establishment -, comments from Greek leader Alex Tsipras will be closely scrutinized, as the market tries to understand how tough Syriza's rebellious position against Europe gets, and what the imminent implications might be towards the financial stability in Europe.
In case that Syriza fails to get a majority, there has been some talk that a potential coalition with Greek's Communist Party - favour break-up from EU - could be a possibility. In early interbank trading, the Euro is down juster under half a cent, around 1.1160 after a Friday's NY close around 1.12.
The latest exit poll from ANT1 TV suggests Syriza's lead to have expanded to over 10 points, an advantage wide enough to assume that an election victory is all but certain. Projections shows Syriza gathering over 36-38% of the popular vote, with the current ruling New Democracy party at 26-28%.
The key question now is whether or now Syriza will achieve a majority in the 300-seat Parliament, with the need to obtain at least 150 seats critical. Should Syriza gain an absolute majority, talk over a possible Grexit will intensify given the party's hard-line stance against Greece's current bailout terms and other tough measures implemented by the Troika in recent times.
Should Syriza emerge victorious with a majority in parliament - worst case scenario for the European establishment -, comments from Greek leader Alex Tsipras will be closely scrutinized, as the market tries to understand how tough Syriza's rebellious position against Europe gets, and what the imminent implications might be towards the financial stability in Europe.
In case that Syriza fails to get a majority, there has been some talk that a potential coalition with Greek's Communist Party - favour break-up from EU - could be a possibility. In early interbank trading, the Euro is down juster under half a cent, around 1.1160 after a Friday's NY close around 1.12.