Authors: Kelly Knaub
(NEW YORK) -- Greece's conservative New Democracy party defeated the leftist Syriza party in its Parliamentary elections on Sunday, official projections, showed, results likely to ease global fears that the country will leave the euro zone and disrupt world markets, the New York Times reports.
Neither party is expected to win enough votes in the 300-member Parliament to form a government, but official projections showed that New Democracy and and the socialist Pasok party would earn enough seats to form a coalition. Projections gave New Democracy 29.5 percent and 128 seats and Syriza, who vowed to repeal Greece's austerity measures, 27.1 percent and 72 seats. Pasok followed with 12.3 percent and 33 seats. Under Greek law, a coalition would need at least 151 seats to create a coalition, according to the Times.
New Democracy won the Greek elections on May 6, but had failed to form a government with its former opponents, the Socialists. The parties are under intense pressure now, however, to form a coalition as the country is expected to run out of money to meet expenses in July, the paper says.
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