Greeks angered by a vicious and protracted financial crisis punished the parties that have dominated politics for decades Sunday, with projected election results showing them hemorrhaging support to anti-bailout groups and no party gaining enough ballots to form a government.
Assuming no defects in Pasok or the New Democracy parties, the pro-austerity may just scrape together enough votes to barely piece together a ruling coalition. How long it lasts is another matter as Pasok was humiliated with a third place showing.
Reuters reports Angry Greeks reject bailout, risk euro exit
In spite of recent fearmongering by Germany and New Democracy leader Antonis Samaras, polls still show Syriza (radical left) leader Alexis Tsipras in the lead for Greek Prime Minister. Syriza's lead has generally been shrinking, but all of the polls have Syriza in the lead. Polls are pretty volatile. Leads swing from 3 to 10 points depending on polling organization. Wikipedia has a nice summary of the Greek Election on January 25.
The talks still continue but good news is on the horizon as yet another political party, the Democratic Left, has backed out of the Unity coalition.
Please consider Greece's moderate left says no government possible
The moderate Democratic Left party in Greece says it will not join pro-bailout parties in a coalition without the more radical far-left Syriza.
New Democracy is in lead with about a third of the vote counted. However, it now appears New Democracy has won, but it's also possible that no coalition with New Democracy will form. It all depends on Pasok , which has stated unwillingness to enter into a coalition with New Democracy.
From The Guardian Greek Live Election Coverage.
7.53pm: Horsetrading between the parties has begun: