Greek Prime Minister Kyriakos Mitsotakis pummeled his opposition in Sunday’s national election, moving a step closer to getting another four-year term and sending a signal to markets that the premier’s investment-friendly policies will continue.
Mitsotakis’s center-right New Democracy received almost 41% of the vote compared to about 20% for the leftist Syriza party of former premier Alexis Tsipras. The premier fell short of the threshold to immediately form a government on his own, meaning he will likely opt for another ballot in about a month rather than try to form a coalition.
Voters were convinced by Mitsotakis’s pledge to build on one of the European Union’s fastest economic recoveries that has Greece on the cusp of a return to investment grade. The three top parties will have about nine days to see if a coalition is possible, but that’s unlikely since all the main group leaders have ruled out working with each other and because Mitsotakis has a clear path to a decisive victory if another vote is held.
