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Sunday, 6 May 2012

Greek voters reject eurozone austerity

Greek voters have dealt a blow to eurozone hopes that Athens will stick to its austerity commitments as parties opposing more cuts, including neo-Nazis, won almost 60 per cent support at the polls. According to updated exit polls, the two main parties suffered heavy losses on Sunday, with the conservative New Democracy and the left-wing Pasok getting just 32 to 34.5 per cent between them, down from 77.4 per cent at the last polls in 2009. New Democracy, led by Antonis Samaras, remained the largest party but it fell short of an absolute majority in parliament. Advertisement: Story continues below It would therefore be tough for Samaras, once he is officially tasked to do so by the president, to form a government able to keep its austerity promises and implement more cuts demanded by the country's creditors. Athens has already committed to finding next month another 11.5 billion euro ($14.8 billion) in savings through 2014.

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