Greece's New Democracy party's hard-line softens

Date: Thursday 14 Jun 2012

Antonis Samaras, leader of Greece's right wing New Democracy party, has admitted he would be willing to form a coalition government in Greece if his party wins next Sunday’s elections.

Samaras noted that most opinions were converging and said he was optimistic about a full agreement being reached to form what he called a “national salvation” government. “On the renegotiation of the bailout there is convergence with a number of parties on the right and left. I do not want to believe that the gaps cannot be bridged,” he said.

Despite the apparent reaching of common ground, Samaras still struck out at radical left rival party Syriza calling its policy programme “maths and comic books”. Samaras also accused Syriza of writing their plans in drachmas instead of euros.

Syriza’s leader Alexis Tsipras has long denied that his party wishes to leave the euro despite insisting that the bailout terms must be renegotiated. Tsipras has indicated as well that a government must immediately be formed in Greece after the following elections. He believes it will be either a left wing government with his party at the core or a right wing one with New Democracy at the centre. Syriza and New Democracy were running neck and neck in the last published opinion surveys.

In any case, Citigroup analysts assert that it is highly likely that Sunday’s elections won’t produce a definitive outcome. They believe that Greece will go through another period of failed negotiations and end up announcing new elections in what would be a worst case scenario pushing the euro/dollar down to $1.2288, from the current $1.2560.

JM

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