May 6, 2012
Greece was plunged into political uncertainty on Sunday after voters bolstered the far left and neo-Nazi right in a wave of protest that saw the crushing defeat of the dominant political parties they blame for Greece’s economic collapse.
The parliamentary elections were the first time Greece’s foreign loan agreement had been put to a democratic test, and the outcome was clear: a rejection of the terms of the bailout and a fragmentation of the vote so severe that the two more established parties were scrambling to form alliances in a hung Parliament.
The elections were seen as pivotal, determining both the country’s future in Europe and its prospects for economic recovery. The outcome, along with that in France, is expected to resonate far beyond Europe and possibly lead to more upheaval in the euro zone. The results were also a clear rebuke to European leaders that their strategy for Greece had failed.
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