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Greece Exit Polls – Very Close

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The first exit polls are in, with about 80% of voters being reported.  The New Democracy seems to have a slight lead of Syriza in the Greek exit polls.

greek exit polls

Greece’s conservatives and radical left Syriza parties were in a very statistical dead heat inside a race too near call, early exit polls showed Sunday, an outcome that may fuel investor fears over further political uncertainty within the 17-nation euro zone and coming just hours ahead of the first Asia-Pacific markets open for trade.


In line with the exit polls shown around the state-owned NET television channel just minutes after the ballots closed, the conservative New Democracy was estimated to get garnered between 27.5% and 30.5% from the vote, versus 27% and 30% for Syriza.

At risk isn’t just control over Greece’s 300-member parliament but potentially the fate of Europe’s fragile 17-member currency bloc.

The crisis has now spread to Spain, the euro zone’s fourth-largest economy, forcing it recently to ask about for a bailout for its banks and also threatens to engulf Italy, severely testing the region’s sovereign rescue firepower.

Greek voters face an alternative between two competing visions of methods their country should confront a hardcore austerity program demanded by European and international creditors in return for aid, but containing helped push the economy deep into recession and unemployment to record highs.

The vote has pit New Democracy party-which mostly props up country’s latest European-led bailout-against their leftist rival, Syriza, which desires to tear inside the austerity program that was included with it.

Official projections are required around 1830 GMT — when 25% of the vote is counted–that may also give an indication of ways many seats all parties will win in parliament. Who comes first is crucial: under Greek election law, the party with the most votes gets a 50 seat bonus in parliament passing it on an unassailable advantage in forming a coalition government.

The exit polls also indicate a fragmented parliament with no party more likely to win an outright majority, setting off another contentious round of coalition talks around Monday. 10 days of coalition talks following an inconclusive vote May 6 failed to make a stable government, forcing Sunday’s second round.

Any new government will face Olympian hurdles when it will require office, using a central administration threatened by way of a cash crunch within weeks, an economy in free fall and an angry public exhausted by 2 yrs of successive austerity measures.

Greece’s reform program can also be wealthy track, following weeks of political paralysis. The initial task facing Sunday’s winner will probably be to get %u20AC11.5 billion ($14.5 billion) — maybe more — of the latest austerity measures being demanded by the country’s creditors but which may further inflame public opinion.

Big market moves for the Nasdaq (INDEXNASDAQ:.IXIC), S&P (INDEXSP:.INX) and Dow Jones (INDEXDJX:.DJI) are expected next week as voters digest the news from Greece. For those of you tracking the US markets with ETFs, that’d be (NASDAQ:QQQ), (NASDAQ:SPY), (NASDAQ:DIA).

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Sam Manning
Post Written By: Sam Manning
Sam Manning is a long-time investor and writer for various stock market related news sources. Sam loves playing futbol/soccer and spending time with two sons and daughter. Sam’s experience of over 15 years of full-time investing adds a great deal to the usefulness of the articles on TheStockMarketWatch.com.

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