Greek PM Mitsotakis declines coalition, paving the way for second election in June
Greek Prime Minister Kyriakos Mitsotakis has decided not to pursue a coalition government after the inconclusive election over the weekend.
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This sets the stage for a second vote in June, with hopes that his conservative party will secure a clear victory.
In a remarkable turn of events, Mitsotakis's New Democracy party received 40.8% of the vote, while the leftist Syriza party secured 20.1%. This outcome greatly bolsters Mitsotakis, who has faced challenges such as a wiretapping scandal, the COVID pandemic, a cost of living crisis, and a tragic rail crash that sparked public outrage.
However, despite the success, New Democracy fell short of the necessary seats to form a government independently, prompting discussions of potential coalitions among the three largest parties.
Despite this, the markets responded positively, anticipating a New Democracy triumph in the upcoming second vote.
The second vote will be conducted under a semi-proportional representation system, featuring a sliding scale seat bonus, which increases the likelihood of Mitsotakis's party achieving an outright victory. All parties are eligible to participate once again. (ILKHA)