Greece’s Prime Minister elect Kyriakos Mitsotakis pledges more investments and fewer taxes after landslide victory. More here:
ATHENS - Greece’s opposition conservatives returned to power with a landslide victory in snap elections on Sunday, and Prime Minister elect Kyriakos Mitsotakis said he had a clear mandate for change, pledging more investments and fewer taxes.
Exit polls showed New Democracy winning between 155 and 167 seats in the 300 member parliament, taking advantage of an electoral system which gives bonus seats to the frontrunner. Golden Dawn, an extreme right-wing party detractors accuse of having neo-Nazi sympathies, lost significant ground with early results suggesting it may not reach the 3 percent threshold to parliament.“The basic reason is the economy,” said analyst Theodore Couloumbis. “In the past 4.5 years people saw no improvement, on the contrary there were cutbacks in salaries and pensions,” he said.
Mitsotakis will inherit an economy that is growing at a moderate clip - at a 1.3% annual pace in the first quarter - and public finances that may fall short of targets agreed with official lenders. The real test will be next year’s budget with Mitsotakiss expected to outline the key contours in the traditional economic address in Thessaloniki in September.
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