Interim report on Greece — still running out of road

Bloomberg:

Greeceā€™s New Democracy party opened up a narrow lead in Greek elections today, receiving between 28.6 percent and 30 percent of the vote, final figures from an exit poll forecast. Anti-bailout party Syriza got between 27.5 percent and 28.4 percent, according to the exit poll, broadcast on state-run television NET. Socialist Pasok is placing third with between 11 percent to 12.4 percent, according to the poll, which is based on the reading from a full sample of 10,000 voter. The results, if confirmed, may give Pasok and New Democracy enough support for them to team up to form a government with a majority of 159 seats in the 300-seat Greek parliament.

If these results hold, it looks like another round of amend and pretend and kick the can down the road a little more. It’s just going to make matters all the more painful in the end, in our opinion. Syriza, an anti-austerity party, is up 10 points over the results last month, and between it and the Communist Party, you’ve got a third of the electorate. If anyone believes harsh austerity measures can be put in place with a strongly dissenting slice of the electorate that large, good luck with that.

One Response to “Interim report on Greece — still running out of road”

  1. Andrew_M_Garland Says:

    I don’t understand the hand wringing over proposed Greek austerity. Austerity is as easy as pie. The Greek elistes should just relax, do just what they have been doing for 20 years, and austerity will impose itself.

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