Greece votes on Sunday: anti austerity parties likely to capture more than 50 % of the vote.

Greek voters go to the polls in a few hours and it appears from the polls and expert analysis that the two major parties New Democracy and the Greek socialist party Pasok may together not get more than 40 or so % of the vote. Instead a number of small parties  who are strongly opposed to the austerity conditions of the Greek bailout together may score close to 40 %. Unfortunately a very  extreme right wing nationalist populist party called Golden Dawn seems poised  also to get more than 5 % of the vote. Among the previously fringe parties doing well in the polls is a new party led by a popular tv presenter who is strongly opposed to the austerity conditions, the independent Greeks party; the Communist party is also strongly opposed as is the Coalition of the Radical Left and two other parties who have staked out an anti-bailout austerity policy. Even the leader of the Conservative New Democracy party, Antonis Samaras, which is polling around 25 % is very critical of the austerity being demanded and is promising changes in policy. There are more than thirty parties in Greece !

Pasok led by Evangelos Venizelos is down to 15-19 % in the polls after having won the last election with 43 % of the vote.Its leader  insists that Greece had no choice but to go along with the austerity demanded of it. Obviously I don’t agree. Though to be fair there needed to be better support for this position from influential economists in Europe.  Its handling of the crisis and its embrace of austerity appear to have guaranteed its political defeat. So we shall know tomorrow if both Greece and France become close allies over these clearly discredited austerity policies. The future character of the Euro zone and European democracy hangs in the balance.


About haroldchorneyeconomist

I am Professor of political economy at Concordia university in Montréal, Québec, Canada. I received my B.A.Hons (econ.&poli sci) from the University of Manitoba. I also completed my M.A. degree in economics there. Went on to spend two years at the London School of Economics as a Ph.D. student in economics and then completed my Ph.D. in political economy at the University of Toronto. Was named a John W.Dafoe fellow, a CMHC fellow and a Canada Council fellow. I also was named a Woodrow Wilson fellow in 1968 after completing my first class honours undergraduate degree. Worked as an economist in the area of education, labour economics and as the senior economist with the Manitoba Housing and Renewal Corporation for the Government of Manitoba from 1972 to 1978. I also have worked as an economic consultant for MDT socio-economic consultants and have been consulted on urban planning, health policy, linguistic duality and public sector finance questions by the governments of Manitoba, Saskatchewan,the cities of Regina and Saskatoon, Ontario and the Federal government of Canada. I have also been consulted by senior leaders of the British Labour party, MPs from the Progressive Conservative party, the Liberal party and the New Democrats on economic policy questions. Members of the Government of France under the Presidency of Francois Mitterand discussed my work on public sector deficits. I have also run for elected office at the municipal level. I first began to write about quantitative easing as a useful policy option during the early 1980s.
This entry was posted in austerity, Greek sovereign debt crisis, Mr.Papandreou and democracy, Uncategorized, unemployment. Bookmark the permalink.

1 Response to Greece votes on Sunday: anti austerity parties likely to capture more than 50 % of the vote.

  1. Political Hijinx says:

    Professor Chorney,
    I’m a former student of yours who follows your blog regularly. I’ve always enjoyed your articles (as I did your classes). You mention in your article that Greece has over 30 parties. Although the official numbers are not in yet, with close to 40% of the votes apparently going to a number of smaller parties, do you think such a fragmented political landscape would remain stable enough to fight off the ridiculous austerity measures imposed by PASOK and the Eurozone? I’m personally hoping for some sort of stable coalition but I have my doubts on how feasible this will be. Along with Francois Hollande’s anticipated victory in France, this is turning out to be a very interesting day in Europe.

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