No winners after Greeks punish their politicians

The conservative New Democracy party appeared the most likely to win the top spot, while the extreme right-wing Golden Dawn seemed set to gain parliamentary seats for the first time. Days of talks are likely to ensue as parties try to hammer out a coalition.

The election will determine the country’s course after years of austerity measures that have outraged voters but were critical in convincing international creditors to extend Greece billions in bail-out loans.

According to an exit poll, New Democracy was projected to win between 17 per cent and 20 per cent of the vote, the formerly majority Pasok socialists between 14 per cent and 17 per cent, and the left-wing Radical Left Coalition, or Syriza, between 15.5 per cent and 18.5 per cent.

Golden Dawn, which has vowed to kick out immigrants and mine Greece’s borders with Turkey, was predicted to win 6 to 8 per cent. “Greek citizens should not fear us, the only ones who should fear us are the traitors,” Golden Dawn leader Nikolaos Michaloliakos said.

Whatever the result, the outcome will be a blow to both New Democracy and Pasok, which have dominated Greek politics for nearly four decades.

“This is a major political earthquake, that has devastated Pasok,” senior New Democracy official Panos Panagiotopoulos said. “New Democracy remains the first party but has a very low support number. It is an explosion of anger and despair.”

The party with the most votes will get a bonus of 50 seats, but with percentages so low and between seven and ten parties projected to enter parliament, that will not be enough to form a governing majority.

The first party will be given a mandate to form a coalition, and will have three days for negotiations. If it fails, the mandate will go to the second party for a further three days, and then on to the third party.

If no coalition emerges, Greece will have to have another election – a prospect that has alarmed creditors.