Greeks Head to the Polls With the Fate of the Euro Hanging in the Balance
- Posted on June 17, 2012 at 7:29am by
Madeleine Morgenstern
- Print »
- Email »
A man exits a booth before casting his ballot at a polling station in Athens, Sunday, June 17, 2012. Greeks are voting Sunday for the second time in six weeks in what is arguably their country's most critical election in 40 years. (AP Photo/Petros Giannakouris)
ATHENS, Greece (AP) — Greece voted Sunday amid global fears that victory by parties that have vowed to cancel the country‘s international bailout agreements and accompanying austerity measures could undermine the European Union’s joint currency and pitch the world’s major economies into another sharp downturn.
For Greeks, it is the second national election in six weeks and arguably the most critical in decades, reflecting political turmoil sparked by a two-year financial crisis that some fear could force the country to abandon the euro and return to its old currency, the drachma. That in turn would likely drag down other financially troubled countries and threaten the euro itself.
(Related: Everything You Always Wanted to Know About Greece Leaving the Euro (But Were Afraid to Ask)
The last opinion polls published before a two-week pre-election ban showed the radical left Syriza party of Alexis Tsipras running neck-and-neck with the conservative New Democracy party of Antonis Samaras. But no party is likely to win enough votes to form a government on its own, meaning a coalition will have to be formed to avoid yet another election.
The results of exit surveys were expected at the close of polling stations at 7 p.m. (1600 GMT) Sunday, and the first official projections were expected at around 9:30 p.m. (1830 GMT). Strong winds in the Greek archipelago forced the cancellation of some ferry routes, raising doubts about whether some voters would be able to get to islands with polling stations in time.
Inconclusive elections on May 6 resulted in no party winning enough votes to form a government, and coalition talks collapsed after 10 days. The vote, which also sent the formerly governing socialist PASOK party plunging to historic lows, sent a very clear message that Greeks have lost patience with the deep austerity imposed in return for the country receiving billions of euros (dollars) in rescue loans from other eurozone countries and the International Monetary Fund.
“I’d like to see something change for the country in general, including regarding the bailout,” said Vassilis Stergiou, an early-morning voter at an Athens polling station. “But at least for us to get organized and at the very least do something.”
Tsipras, a 37-year-old former student activist, has vowed to rip up Greece’s bailout agreements and repeal the austerity measures, which have included deep spending cuts on everything from health care to education and infrastructure, as well as tax hikes and reductions of salaries and pensions.
But his pledges, which include canceling planned privatizations, nationalizing banks and rolling back cuts to minimum wages and pensions, have horrified European leaders, as well as many Greeks. Tsipras’ opponents argue that the inexperienced young politician is out of touch with reality, and that his policies will force the country out of the euro and lead to poverty for years to come.
Virtually unknown outside of Greece four months ago, Tsipras‘ pledges and his party’s strong showing in the May 6 elections, where he came a surprise second place and quadrupled his support since the 2009 election, has put him in the international spotlight.
Scores of journalists and television news crews from across the world jostled for space to cover Tsipras casting his ballot in an Athens polling center.
“We have beaten fear. Today we open a road to hope,” he said after voting, adding that he was confident of victory.
“Today we open a road to a better tomorrow, with our people united, dignified and proud. In a Greece of social justice and prosperity, an equal member of a Europe that is changing. A Europe of the peoples and of solidarity.”
The young left-wing leader has accused his rivals of attempting to terrorize the population by casting him as the man who will ruin the country, and insists he will keep Greece within the euro – something that repeated opinion polls have shown about 80 percent of Greeks want.
Greece has been dependent on the rescue loans since May 2010, after sky-high borrowing rates left it locked out of the international markets following years of profligate spending and falsifying financial data.
The spending cuts made in return have left the country mired in a fifth year of recession, with unemployment spiraling to above 22 percent and tens of thousands of businesses shutting down.
For his part, Samaras has cast Sunday‘s choice as one between the euro and returning to the country’s old currency, the drachma. Although he voted against Greece’s first bailout in 2010, when his party was in opposition, he backed the second bailout agreed on late last year. He has vowed to renegotiate some of the terms of the accompanying austerity, but insists the top priority is for the country to remain in Europe’s joint currency.
“The main thing we will decide on is the dilemma, euro or drachma,” he said during his final pre-election rally in central Athens on Friday.
European leaders have cautioned that Greece could be left outside the 17-nation eurozone if it pulls out of its bailout commitments.
Newly elected French President Francois Hollande warned in a Greek television interview earlier this week that “if the impression is given that the Greeks want to move away from the commitments that were taken and abandon all prospects of revival, then there will be countries in the Eurozone that will want to end the presence of Greece in the eurozone.”
Nearly 10 million people are eligible to vote in the country of about 11 million people. Polls close at 7pm (1600 GMT), with official results expected a few hours later.
“Today the Greek people speak. Tomorrow a new era for Greece begins,” Samaras said after casting his ballot in a small town in southern Greece, the first of the main politicians to do so.
As Greeks went to the polls, more than 250 firefighters and soldiers battled a fire raging south of the Greek capital since Saturday afternoon. Local authorities said several houses were burned. Gale-force winds were hampering the efforts to extinguish the blaze, and Greece asked for help in water-dropping planes from Italy, France and Croatia.
Three firefighters suffered burns on Saturday, while four people were arrested for allegedly starting the fire by accident during welding work at a construction site.
Popular Stories
Does Misstated Marathon Claim Prove Paul Ryan Is Dishonest? (POLL) 692 Comments
Paper Details Obama Admin’s Alleged Secret Note Sent to Iran: If Israel Attacks, We Won’t Get Involved 495 Comments
Obama: RNC Like Watching ‘Black-and-White TV’ Because Romney ‘Did Not Offer a Single New Idea’ 375 Comments
Roseanne Barr: Most Billionaires ‘Violent Pedophiles’ & ‘Heartless’ Cocaine Addicts 346 Comments
‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 331 Comments
Faith
This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 315 Comments
Pakistani Muslim Cleric Accused of Framing Disabled Christian Girl in Koran-Burning Case Read More- ‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 331 Comments
Meet the Controversial German Imam Accused of Brutally Beating His Wife & Pushing Sharia Law Read More
‘Self-Proclaimed Messiah’ & Unification Church Leader the Rev. Sun Myung Moon Has Died — Here’s His Life Story Read More
Business
President Obama Issues Major ‘Green Energy’ Executive Order 239 Comments- Germany’s Upcoming Court Ruling Will be Huge for the EU Read More
Ford Looks to Beat Toyota for Best-Selling Car in 2012 With This Model 148 Comments
Bernanke & QE3: Here’s What You Need to Know Read More- ‘Extortion’: Why Did the Labor Department ‘Drop the Hammer’ on Oregon Farmers? 302 Comments
Technology
- This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 315 Comments
‘TaserDrone’: Hackers Weaponize Quadcopter With Actual ‘Shocking’ Technology Read More
Ever Heard of the Wild ‘Burning Man’ Festival in the Middle of the Nev. Desert? Here’s Your Primer Read More
Stanford Develops Technology ‘Better Than Steroids’ for Athlete Recovery Read More
Have You Pretended to Know What ‘the Cloud’ Is? You’re Not Alone Read More
Submitting your tip... please wait!
Comments (66)
Individualism
Posted on June 17, 2012 at 12:37pmthe left will probably win this election just like our 2012 ones coming up cause people in greece just like America do not want any form of austerity but republican neo cons will still increase military spending while democrats would decrease military to increase edcuation and other domestic spending. so given the trend of European countries i think America will become more to the left due to the bad economy and lack of opportunity for most now.
Report Post »Baja
Posted on June 17, 2012 at 7:49pmNuts!
Report Post »Baja
Posted on June 17, 2012 at 12:32pm@PASSERBY
“Canada has no debt, they’re sitting pretty and are very socialized.”
In case you’re not versed on current events, our friends to the north have been moving away from socialism.
Report Post »Passerby
Posted on June 17, 2012 at 12:54pmHow has Canada moved away from Socialism? It’s socialist as heck. Pure socialized medicine.
Fact is, it IS socialist, whether it’s “moving” or not and it has no debt.
And except for the socialist thing, they’re a lot like us.
I don’t mean to be defending socialism, I’m a big fan of free enterprise, just saying it’s virtually every first world country on earth, and it has nothing to do with partisan poltiics.
Report Post »RepentYe
Posted on June 17, 2012 at 1:11pm@passerby… How do the socialist canadians afford all of their welfare programs, I ask you, and not incur the same crushing debt as Greece and the US… Answer: Oil !!!!! They also have only a basic military. It’s great for the western powers to feel safe when WE the US tax payers provide security to their socialist party. Wake up and get a clue. Nothing in this world is free. As much as the so called west despises US power, they will mourn the very day we are gone.
Report Post »soybomb315
Posted on June 17, 2012 at 1:35pmits all about tragectory. Canada is become more free while America is becoming more socialist. Canada might still be more socialist – but in a few years (or months), that might not be the case.
Look at our housing bubble. Did Canada have a housing crisis??? NO. They did not (means the government is less involved in housing. I am also under the impression that their banks are in good health and not needing bailouts
Report Post »Passerby
Posted on June 17, 2012 at 4:59pmNothing to do with oil, Mexico has more oil than Canada. So do we.
And yes, they would all miss the US if we weren’t there to protect them.
Report Post »RepentYe
Posted on June 17, 2012 at 8:24pmNothing to do with OIL !!! have you never heard of the oil sands? Is that why its no big deal that the keystone pipeline was never created? Oh…. wait, it is a big deal. I was almost sucked into the parallel universe where you seem to live. You are talking about a country that is filled with natural resources and a limited population to exploit said resources. IT HAS EVERYTHING TO DO WITH OIL. If you don’t believe me, the same dynamic exists in the Dakotas!
Report Post »Thwarkmaster
Posted on June 17, 2012 at 12:32pmThere’s very little private money left in Greek banks. Greeks have withdrawn hundreds if billions of Euros and taken them out of the country in fear of losing the EU currency. If the drachma is reinstated, at a rate of one drachma for one euro, the drachma will lose have its value after a few days. Adventures in socialism always have sad endings, as we will likely find out for ourselves, quite soon.
Report Post »vox_populi
Posted on June 17, 2012 at 12:55pm“If the drachma is reinstated, at a rate of one drachma for one euro, the drachma will lose have its value after a few days.”
That’s a good thing. The euro is too expensive of a currency for Greece to realistically be using, particularly when their main source of economic income is through tourism. They would benefit tremendously from the cheaper drachma.
Report Post »freeberty
Posted on June 17, 2012 at 11:56amIts a great time in history to be alive, I know while some of you may like to cower in fear the others may want to take the opportunity and make some money based on others greed and stupidity. Short the euro, Spain and Italy are next.
Report Post »Snowleopard {gallery of cat folks}
Posted on June 17, 2012 at 12:15pm@Free:
There is the old saying from China, that goes “May you live in interesting times.” It is suppose to be an insult, curse and warning to avoid causing any unnecessary chaos. However, we do live in a time of great transition and intrest. This time people have the chance to make a major difference, both on the local and national levels.
This is the time when here at home WE THE PEOPLE are the hero’s. People have been looking for a Washington or Lincoln. What they fail to connect with is that the leader is only as good as the people, and the people as good as the leader.
If the top is corrupt, then the bottom suffer; and if the bottom is corrupt or uncaring, so the top becomes the same.
Report Post »freeberty
Posted on June 17, 2012 at 1:39pm@ Snowleopard
You must be talking about people on another planet or something. The people in this country had a choice and they have chosen the 2 that will keep the status quo and the government checks rolling in. The people have proven that they are willing to commit filicide rather than give up their farm subsidies (since1920’s), social security, medicare. medicare, military contracts, and any other kind of government paycheck. Even our religious organizations have their hands out for that government check. Ask anyone taking a government check to give up a little bit and they’ll whine and squeal louder than a broodmare in section 8. I know the largest employer in my county and state and country is the government. Until people are willing to stop stealing my money and the future of their children and grandchildren I will have no faith in my follow citizen to do the right thing.
I have a question for those of you taking any kind of government check, what do you see in the mirror knowing that your taking the pursuit of any kind happiness from your future generations?
Report Post »Guitar Master
Posted on June 17, 2012 at 11:31amzzzzzzzzzzzzzzzzzzzzzzzzzz
From THE REPORTER
zzzzzzzzzzzzzzzzzzzzzzzzzz
“There’ll be a hot time in the old town tonight !!”
Report Post »Passerby
Posted on June 17, 2012 at 11:29amNothing to do with knee-jerk mindless parisan politics.
The middle class in virtually all first world countries is disappearing. Nothing to do with Greece or socialism. Canada has no debt, they’re sitting pretty and are very socialized.
It’s the New World Order, that great experiment with global open trade, that will end big Wars, (no competition over natural resources, and you make money off them), raise the third world out of poverty and turn Americans/Europeans/Japanese/etc. into computer programmers and brain surgeons.
Didn’t work. It’s bringing the middle class down to third world poverty. All it did is harvest the wealth of the world’s middle class and ship it to offshore banks.
There wouldn’t have been a Tea Party were it not for that squeeze on the middle class. The middle class of every first world country on earth has been in the streets, they give different reasons, but it’s always the same reason…
Why is life getting harder?
Report Post »paulwbrown
Posted on June 17, 2012 at 11:27amHow can a country with such a glorious past be so suicidal today?
Report Post »dnewton
Posted on June 17, 2012 at 11:01amHow did they get out of touch with the economic reality of their system? When we figure that out, we can turn that wisdom on our own predicament. Socialist are the experts in sustainability when it comes to the environment but when it comes to the economy, they don’t want to even try and understand the natural limitations of paying for everything that can be a dream. Once you assume that rich people are everywhere and have unlimited cash that they don’t need, there seems to be no reason to imagine a limit.
Report Post »Passerby
Posted on June 17, 2012 at 11:31amFalse, the only countries on earth that don’t have debt problems are socialists and Communists.
Canada for instance.
Or Communist China.
Report Post »RepentYe
Posted on June 17, 2012 at 1:24pm@passerby… Again, Oil, that is the reason Canada can do what it does, funny though, I don‘t know of anyone from the US running to the Canadian health system for treatment they just can’t get here at home in the good ol’ USA. Your criticism and comments are over simplified at best, and just plain ignorant at worst. You would love to live in the Utopia called China would you? For simply typing a criticism on your keyboard you would be the first removed from the excess population. China only exists because first world nations, such as those found in the EU, purchase their manufactured goods produced at what we would consider slave rates. However the gravy train for China is even coming to an end. It is about everyone trying to get something for nothing. That is the problem with socialism.
Report Post »RepentYe
Posted on June 17, 2012 at 1:27pm@dnewton… correction, Chernobyl? Have you seen the news story about China and the yellow-green haze that lingers over their cities. Socialist could care less about the environment. It is the oldest trick in the book, co-op a religious fervor to advance your political goals. The religion of environmentalism, though noble in concept, is just the vehicle that socialists in the west glob onto to advance their agenda. In actual communist countries the environment isn’t even on the radar.
Report Post »BlackCrow
Posted on June 17, 2012 at 10:43amSocialists will win as few wish to face the fact that the gravy train has run out of gas. They will pull out out the Euro and resume printing Drachams which were for all intents and proposes worthless BEFORE they joined the EU. The larger question is Spain, Italy and France where the socialists will probably take back their legislature. The Germans are not going to pour good money after bad. And then OUR Federal Reserve is talking about Quantitative Easing (printing money) to pump into the Euro Zone to keep big banks in this country from taking a bath on their European exposure. In effect taking us U.S. down with the Euro zone.
And don’t forget the Muslim Brotherhood and when they win the election the Egyptian military is not going to take orders from the “civilian” authority sparking a civil war that will draw the whole region in and cutting off the flow of Libyan oil to an already floundering Europe.
We need to send a message; The United States stands with Israel and the rest is YOUR problem. You are not going to get any money, you are not going to get arms, and anybody attempting to produce nuclear weapons (including Pakistan) will be dealt with swiftly and severely! Then back it up.
Report Post »lukerw
Posted on June 17, 2012 at 10:52amGood Luck with that… maybe Next Year!
Report Post »NOBALONEY
Posted on June 17, 2012 at 10:32amTsipras wins! Unable to form government. Merkel’s “Great Europe” expels Greece.
Report Post »theblazerunner
Posted on June 17, 2012 at 10:17amgreece will receive 125b bailout…one-half of that will come from the usa.
the imf is funded by us.
hope you enjoy funding all the bailouts.
Report Post »Amos37
Posted on June 17, 2012 at 10:11amEverything is getting lined up perfectly for the emergence of the Antichrist, and don’t forget the 4th Reich is coming.
Report Post »lukerw
Posted on June 17, 2012 at 10:48amI do not see AntiChrist… as a “the” but as a Type… but I do agree Nationalism is in the Air, with Clouds of Depression, and Hate emanates from the very Ground… so War would be a Stress Release and give support for Change!
Report Post »RepentYe
Posted on June 17, 2012 at 1:30pmThose that lead into captivity shall be lead into captivity.
Report Post »oicu814me2
Posted on June 17, 2012 at 10:02amThis is what will happen when you feed the bear.. In nature if you feed the bear it will at some point have to be put down. Or it will die on its own.
Report Post »Daveed
Posted on June 17, 2012 at 9:22amGood luck Greece. Socialism never works. The winners and losers are determined by which ones sells their freedoms, birthright and soul to an evil ideology. The Euro is a failed coo. Save yourselves your country, your culture, your history, your heroes, your children, as the Global Progressive Communist Dicktators wants to drag you down to the lowest common denominator, breed the Greek out of you. You are a beautiful people and you deserve to remain so. You made mistakes but it is not too late to correct them, change course now. I hope one day to visit your beautiful Greece, when it is Greek again, with proud beautiful people with a beautiful history. God Bless you and God’s speed. The template is out there for you to save your country. Toss Socialism out. It never works, just brings government tyranny and they prosper off your blood, sweat and tears.
Report Post »Detroit paperboy
Posted on June 17, 2012 at 9:37amLazy and incompetent people will always choose socialism over capitalism…..one hides your inadequacy and the other exposes it……simple as that. Period…”.
Report Post »lukerw
Posted on June 17, 2012 at 9:54am@DETROIT…
Report Post »That being said… still they say that 40% of the people would like a Government that takes care of them alike their parents. So, I sense some inbuilt predisposition… to Servatude in some!
hayesstephen
Posted on June 17, 2012 at 10:01amWell said and all truth. Too many people thanking just because they want something their government should give it to them. Trading your liberty for supposed protection and an early retirement, too many people at the trough, you lose your souls and your freedom and your country. Hang on Greece the U.S.A is not far behind you. May God Bless us all.
Report Post »progressiveslayer
Posted on June 17, 2012 at 9:13amThe socialist country of Greece is currently enjoying all that socialism has to offer,everyone will be made equally poor and this is the dream of our Marxist POS president,he’s determined to make us all equally poor.
Report Post »mils
Posted on June 17, 2012 at 9:20am‘ have to agree with you…well, except his hollywood buds. he really shines their shoes..
Report Post »America should have it’s election day on a saturday..then more hard working americans would/could get out and vote.
MetalPatriot
Posted on June 17, 2012 at 2:45pmMils: that’s actually a GREAT idea. For years I couldn’t vote in person due to work. Sure, you could ask for a little time but it would affect an entire shift (business/potential profits) and wasn’t looked kindly upon by my boss. However, I agree that voting should be on Saturdays….WAY more people could vote.
Report Post »Magyar
Posted on June 17, 2012 at 8:55amThis may well be the ‘spark’ that our Marxist has been hoping for. Hope you’re ready…..
Report Post »poorrichard09
Posted on June 17, 2012 at 8:39amWonder if they will take the red pill or the blue pill?
Report Post »G-WHIZ
Posted on June 17, 2012 at 9:44amWill they take the liquid, or the cake? (Alice in Wonderland)
Report Post »BO_Bill
Posted on June 17, 2012 at 8:26amThe Anti-Defamation League (ADL) is considered by many to be a group governed by paranoia and, yes, hate of their political and ethnic rivals. A growing group of aware people is concerned about ADL’s influence in the arena of ideas, specifically mentioning the silencing of dissent.
The ADL does not approve of the large and growing number of Greeks who support Chrysi Avgi, or the ‘Golden Dawn’ political movement. A photograph of Abe Foxman, ADL President. In my opinion, Golden Dawn simply represents a desire for the Greek people to self-govern, and not be obligated by some extra-governmental agency to provide free things to the population of North Africa.
Despite their strong and growing election showings, The Blaze makes no mention of Chrysi Avgi. Abraham Foxman’s family was kicked out of Russia by their neighbors.
Report Post »vox_populi
Posted on June 17, 2012 at 1:02pm“In my opinion, Golden Dawn simply represents a desire for the Greek people to self-govern, and not be obligated by some extra-governmental agency to provide free things to the population of North Africa.”
It worries me, sometimes, knowing that such a large chunk of The Blaze’s population are admitted crypto-fascists. It’s kind of beautiful in its irony, really.
Report Post »just_around
Posted on June 17, 2012 at 8:07am“We have beaten fear. Today we open a road to hope,” he said after voting, adding that he was confident of victory.
“Today we open a road to a better tomorrow, with our people united, dignified and proud. In a Greece of social justice and prosperity, an equal member of a Europe that is changing. A Europe of the peoples and of solidarity.”
his speech sounds oddly similar to our President’s…..
Report Post »G-WHIZ
Posted on June 17, 2012 at 9:49amWill the Greeks get their collective heads out of their burrows’ butts,and get out of the EU which is the [equality of broke nations]…or will they stick their heads back in??(where it’s so warn,brown and dark)
Report Post »Apple Bite
Posted on June 17, 2012 at 8:07amThe heads of those who thought the Euro was a good Idea, should roll into a pile of dog poo! The Euro was the worse idea since double knit pants and butterfly collars!
Report Post »TROLLMONGER
Posted on June 17, 2012 at 7:59amIts the end of the world!!! AHHHHH!!!!!!!! You beckbots are so paranoid. Its hilarious…LOL!
Report Post »Apple Bite
Posted on June 17, 2012 at 8:08amYou do realize this idiot of an administration managed to tie our currency to theirs, right?
Report Post »progressiveslayer
Posted on June 17, 2012 at 9:04amWe’re all connected financially and when Greece defaults the rest will fall like dominoes,and when it hits here we’ll all be equal,equally poor just like Barry wants it.
Report Post »lukerw
Posted on June 17, 2012 at 9:50amThe last I saw… 77% of the US Economy is based upon Exports… where Greece was at the top!
Report Post »lukerw
Posted on June 17, 2012 at 7:52amWTF? 11 Million people and they cannot put out a Fire? Ah… just leave it to the Government!
Report Post »DYNA
Posted on June 17, 2012 at 7:50amWhy would anybody want to bail out anybody else who takes the money, does not change for the better, and disrespects the people doing the giving? This applies to the USA also.
Report Post »lukerw
Posted on June 17, 2012 at 7:56amWhich European Nation… do you respect?
Report Post »DYNA
Posted on June 17, 2012 at 8:32amNone of the nations that I am aware of.
Report Post »But there must be individual people who are taxed to bail out other people in other countries who really do not deserve it. And as a citizen of the USA I do not want this either.
Stoic one
Posted on June 17, 2012 at 8:47amlukerw
How about…Germany?!
Report Post »That is where the majority of the money is coming from
lukerw
Posted on June 17, 2012 at 9:38am@STOIC…
Report Post »Respect is has never been about Money… but about Perception, Trust, Culture, & History. And, as Americans, we came to North America… because we did Not Respect any of these Nations (otherwise our ancestors would have gone there)!
lukerw
Posted on June 17, 2012 at 7:42amVassilis… hit the Nail on the Head: Socialism, where Government organizes everything… has destroyed their ability to Know How To Organize and Git Er Done!
Report Post »Baddoggy
Posted on June 17, 2012 at 7:38amThe end is near…
Report Post »freeberty
Posted on June 17, 2012 at 11:45amSince the beginning of recorded history there is going to be people that think the end is near. You could go sit on a mountain and wait, or you could just go ahead and short the euro and make a ton of money for your future and the future generations of your family, that will continue whether you think the world is going to end or not.
Report Post »theblazerunner
Posted on June 17, 2012 at 2:16pmit is a new beginning…just have to get thru all the shlt first.
Report Post »