The Markets breathed a sigh of relief yesterday as the centre-right New Democracy party won the Greek elections ahead of the left wing anti-austerity party Syriza. Party leader Antonis Samaras has vowed to respect austerity pledges and is seeking a coalition partner as his party secured only 18.8% of the votes.
There were widespread fears that Greece would crash out of the Euro had the far left party Syriza won the election. However, the New Democracy party will need to find a coalition partner soon in order to allay fears that Greece is unable to manage its economy effectively and remain solvent.