In a relatively good news for Greece's political and economic future, the left-wing Syriza party has won more than 35 percent of votes in the parliamentary elections, with party chief Alexis Tsipras claiming that Syriza has a clear mandate.
Although the leftists failed to reach 38 percent of the vote generally seen as needed for a clear majority in the 300-seat parliament, Syriza said it will form a coalition with the nationalist Independent Greeks.
Tsipras' unexpected comeback was stronger than many anticipated after the leftist leader lost his bitter fight with Europe's establishment to end its harsh economic austerity against his country.
If the anti-Tsipras parties had an upper edge in the votes, that would have thwarted the debt agreement reached between the Greek Government and its international creditors, and spelled doom for the Hellenic Republic.
The Conservative New Democracy Party, which accused Tsipras of incompetence in dealing with international creditors, won 28 percent votes in Sunday's poll where the turnout was low at just over 55 percent.
Greek people had to go to the polls for a fifth time in six years after Tsipras quit in the wake of dissent from within his party over the signing of an unpopular bailout deal with its international creditors.
The outcome is also a setback for party radicals who abandoned Tsipras last month after he caved into demands for austerity to win a bailout from the euro zone.
A day after Tsipras announced a surprise resignation as Prime Minister last month, rebel MPs of the Syriza party, who were against the bailout deal, formed a new party. But in Sunday's election, the new Leiki Anotita (Popular Unity) party failed to gain enough votes to enter parliament.
On August 13, Greek Parliament approved a draft agreement with Greece's creditors over the terms of the third bailout to help the nation stay afloat, but with 31 ruling party MPs voting against it.
Greece received the first 13 billion euros tranche of a new 86 billion euros bailout after it was approved by the European parliament and the Eurozone. It arrived just in time for Greece to repay 3.2 billion euros debt to the European Central Bank and avoid a default.
But the biggest rebellion within the ruling party since Tsipras came to power earlier this year forced him to quit, saying he felt a moral obligation to place this deal in front of the people, to allow them to judge both what he achieved, and his mistakes.
Addressing party supporters in a central Athens square Sunday night, Tsipras said he feels "vindicated because the Greek people have a clear mandate to carry on fighting inside and outside our country to uphold the pride of our people."
But he said the mandate to steer Greece's battered economy to recovery lays before him and the Greeks a difficult road, adding that recovery from financial crisis would only come through hard work.
Tsipras also cautioned that the Greek people's struggle will continue for another four years.
The world, especially Europe, is watching closely the Greek political developments because the winner will need to implement deep economic reforms required in return for the bailout.
The new government will also have to arrange a recapitalization of the country's banks, and ease capital controls.
Jeroen Dijsselbloem, the President of the Eurozone finance ministers, tweeted he is looking forward to the swift formation of a new Greek government with a mandate to implement the bailout.
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Political News
December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.