New Democracy a Likely Winner But May Be Unable to Form Coalition; Syriza Has Coalition Chances If New Democracy Fails

Odds of a lasting coalition are slim given the massive vote against the austerity coalition. Fotis Kouvelis, SYRIZA party leader and second place finisher in the elections repeated his position that cooperation with New Democracy and PASOK was not in his intentions. Moreover, Greece's Democratic Left party refuses to join any pro-bailout coalition.

Preliminary exit polls are not good for the pro-austerity, keep Greece in the Eurozone at any cost coalition as 3 parties vie for top post An exit poll commissioned by Greek media shows three parties are vying for the top spot in the country's critical parliamentary elections, with no definitive front-runner and none gaining enough votes to form a government.

The opportunity for Greece to tell the Troika to "go to hell" is at hand, if only the political left can stop bickering long enough to form a coalition. Bailout Rejection Key Demand Alexis Tsipras (SYRIZA's leader) says he will use all three allotted days to do so. His key demand is a bailout rejection, which would mean a eurozone exit whether that is his intention or not. 

In the past week, as I expected, the ECB, Troika, German officials and others have all warned Greeks to not vote for Alexis Tsipras and his radical-left party Syriza. The question is will it backfire. I suggest it already has. The pertinent question is whether it backfire enough to matter. Please consider Greeks rail against 'crude' German editorial.

The preponderance of recent Greek polls show a tight election. However, the latest Public Issue Survey stands out, and I happen to think that is the most accurate one. Please consider Going into final stretch, SYRIZA builds poll lead In the last opinion poll to be published by Kathimerini before the June 17 elections, leftist SYRIZA maintains a clear lead over New Democracy, although short of enough support for a clear parliamentary majority.

Under the category of good news from Greece, The Financial Times reports Greek Unity Talks Hit Impasse. Talks between Greece’s president and the leaders of the country’s three largest political parties on forming a coalition government reached an impasse on Sunday, increasing the chances that the country will hold fresh national elections in June.

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

German and Greek rightwing extremists have been forging close contacts in Germany in a bid to strengthen their power base in Europe, according to German officials. Members of the Greek neo-Nazi party Golden Dawn are believed to have set up a cell in the southern German city of Nuremberg with the aim of recruiting young Greeks who have flocked to the country in search of work.