On 11 April, caretaker Prime Minister Lucas Papademos announced snap elections on 6 May to replace the current interim coalition government. According to recent surveys, the centre-right New Democracy (ND) party, led by Antonis Samaras, is leading the polls, with the Panhellenic Socialist Movement (PASOK), led by Evangelos Venizelos, coming in second. Eight other parties are expected to surpass the 3% minimum threshold required to enter parliament. The key point of this election is whether New Democracy and PASOK - which have formed a coalition since November in order to push through the economic reform program agreed with international creditors - will retain control of the majority in the 300-seat parliament and therefore continue to implement the reforms required under the terms of the bailout program. A poll conducted on 18-19 April by Kappa Research showed that the New Democracy party would win the elections, obtaining 25.5% of votes against 19.1% for PASOK, giving them a combined 170 seats, compared to their current total of 201. Other surveys project that the two main parties would secure just 155 seats.
New Democracy leads polls amidst a fragmented parliament
April 25, 2012
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Greece Economic News
October 10, 2016
In August, industrial production fell a working-day adjusted 0.3% compared to the same month last year, which contrasted the revised 4.7% expansion in July (previously reported: +4.1% year-on-year).
October 6, 2016
The number of unemployed fell by 5,357 in July, according to the Hellenic Statistical Authority (EL.STAT.).
October 3, 2016
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) deteriorated in September, erasing most of the gains made in August.
September 9, 2016
In July, industrial production rose a working-day adjusted 4.1% compared to the same month last year, which came in below the revised 7.9% expansion in June (previously reported: +7.5% year-on-year).
September 8, 2016
The number of unemployed fell by 6,800 in June, according to the Hellenic Statistical Authority (EL.STAT.).