The first victims of the elections (Greek)

[FarCenter]

The outcome of the Greek general elections based on exit polls and early voting returns showed on Sunday night that the country was entering a period of political uncertainty amid the worst economic crisis in the last several decades.

The heightened political risk will most likely compound the country risk and have detrimental effects on economic prospects unless a stable government is formed, but this does not look likely to be the baseline scenario.

Early projections showed the two main pillars of the Greek political system, namely conservative New Democracy and socialist PASOK, which approved the second European Union-International Monetary Fund bailout package, were falling short of the minimum 151 seats needed to govern in the 300-seat Parliament.

Both parties -- and especially PASOK -- paid a big price for approving economic austerity policies in return for EU-IMF loans to keep the country in the eurozone, but this should come as no surprise. This is largely so because they both failed to communicate to the masses that Greece’s position in the euro area was at stake by not sticking to the terms of the bailout.
http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_06/05/2012_440889

[Lionessa]

1. "failed to communicate to the masses ....", uhm, I think the masses actually figured it out

regardless of the partys' abilities to communicate.

What a weak comment and so f'ing patronizing.

[frazzled]

2. Figuring it out would mean ...

not just a backlash but an actual positive vision for what happens moving forward: as it stands, all that happened is that the country has been thrown into a giant confusion, with coalitions on the extreme left and extreme right taking away enough votes from the center right and Socialists to prevent a government, but remaining minorities themselves. It's a message that people know what they don't want, but not that they know (as in France) what they do want.

I think there was only one real outcome today: Angela Merkel has lost her power. Whether Hollande can take over the role is uncertain, though one can be hopeful. As for Greece: it looks really screwed up to me.

[Lionessa]

3. I guess that's one perspective of what's happening, but it's one that seems to disregard the

importance of the fact that the status quo, the extreme austerity, and the 1% controlled parties by whatever name they hide behind can be ousted.

[PSPS]

4. Yes, that jumped out at me too.

[dkf]

5. You are right...they just told the EU to screw themselves.

They know what they are doing.