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Greece kills German Austerity and Austerity with modifications needed 151 seats but only got 149

Will the Right agrees that Elections matter, is that true if the Left wins the election? The GOP far right always state “elections matter” whenever the GOP win and someone objects to the far right judges being nominated. But one wonders if “elections matter” is true when a Socialist that rejects austerity with no growth spending (don’t ask how doing one does not contradict the other) is elected in France, and when the Austerity but with new modifications Greek folks get only 149 seats, needing 151 to govern?

The Greek Interior ministry has released the final estimates of how the 250 seats/300 hundred seats awarded by the election that will be distributed on the basis of proportional representation – the seats won by each party are:

1. Center-right (but to the left of US Democrats) New Democracy got the most votes with 18.8% of the votes and will get 108 seats (includes the 50 seats given the folks that form a government).

2. The Center-left PASOK, after 38 years of receiving percentages over 40%, fell to third place with 13.3% of the votes and and will get 41 seats – a bit of a drop from the 2009 election giving them 161 seats.

And that is it for those willing to do at least most of the German Austerity Plan because the two small other parties that were into the German plan, albeit also with modifications, failed to get the minimum 3% of the votes.

3. The coalition of the left called the SYRIZA party is now the second largest party, getting 16.6% of the votes and will get 51 seats. Alexis Tsipras who heads it is totally against the current austerity measures and the lending agreements and has completely ruled out any cooperation with New Democracy and PASOK, saying that if New Democracy is unable to form a government and he is then asked to do so and does, he will try to annul the lending agreements signed by the previous governments.

4. The forth party with 10.5% of the votes and 33 seats is the “Independent Greeks” led by center-right former member of New Democracy Mr. Kamenos who was tossed by New Democracy after loudly disagreeing with the party’s decision to support the second bailout package and who has said he will not cooperate with New Democracy or PASOK.

5. Coming in fifth with 8.5% and 26 seats is the Communist KKE whose leader, Aleka Paparega, stated he will not cooperate with any other party, whether left, center or right.

6. Coming in sixth and breaking the 3% threshold for seats for the first time was the ultra-nationalist, close the borders, imprison immigrants, Greece for the Greeks, “Golden Dawn” party and with 7% of the vote they will be getting 22 seats. No other party is into corporate control of government so Golden Dawn’s fascist approach excludes it from any negotiations.

7. So it is the seventh and final party who will be the King Maker in all this – the center-left “Democratic Left” which got 6.1% of the votes and 19 seats. Its leader Fotis Kouvelis is against the austerity package but wants to stay in the Euro as long as there is a “growth plan” and fiscal tightening is relaxed a little.

8. The last 50 seats are awarded in Greece to the party that can form a government (in this list assumed to be New Democracy).

So Center-right New Democracy will now have 3 days to form a new government with 151 or more votes in favor or that government. If it fails the SYRIZA party will be asked to form a government

Meanwhile markets are down around the world after the rejection in both France and Greece of those that want German Austerity in the face of recession by withdrawing from the the corporation preferred German plan.

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