Sunday, July 7, 2019

Greece’s centre-right on course for snap election victory

by Kerin Hope

Financial Times

July 7, 2019

The traditional centre-right party is set to regain power in Greece after a sweeping general election victory, raising hopes of a return to growth and stability in a country rocked by years of recession and three international bailouts.

Kyriakos Mitsotakis’s New Democracy party was forecast to win 38-42 per cent of the vote, according to exit polls, compared to 26-32 per cent for the leftist Syriza party of Alexis Tsipras, the prime minister.

Mr Mitsotakis, a US-educated McKinsey alumnus and son of a former prime minister, said he would focus first on cutting taxes, reducing red tape and attracting foreign investment to create jobs and stem migration abroad by skilled young Greeks.

The result is a heavy blow for Mr Tsipras, the one-time radical firebrand who abruptly reversed his policy stance and adopted a harsh austerity programme in return for an €86bn bailout after Greece came close to crashing out of the eurozone in 2015.


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