Greece's centre -right in landslide election victory

Associated Press

Athens: After a most tantalising of victories, having inflicted the heaviest defeat in half a century on the opposition, Greece's centreright Prime Minister Kyriakos Mitsotakis confirmed Monday that he would seek a second national election within weeks to secure the majority he needs to govern alone.

With 99.70 per cent of the votes counted, Mitsotakis' New Democracy party won 40.79 per cent — twice the left wing main opposition Syriza's 20.07 per cent — dominating 58 of the country's 59 constituencies. Socialist Pasok came in third at 11.46 per cent, while turnout was 61 per cent.

President Katerina Sakellaropoulou on Monday formally offered Mitsotakis the mandate to try and form a coalition government. But during a brief televised conversation, he told her he would return it within hours as there seemed no prospect of success. Mitsotakis voiced hope a new election could come as early as June 25.

ND's margin of victory far outstripped pollsters' forecasts and was the biggest since 1974, when Greece's first democratic elections were held after the fall of the seven-year military dictatorship. Athenian Fotis Hatzos said that while he had expected ND's win, its hammering of the main opposition party took him by surprise. “What is there to say, (Mitsotakis) destroyed them," he told The Associated Press.

“He won fairly.” Markets welcomed what seems to signal the end of the political uncertainty that troubled the NATO and European Union member following the 2009 financial crisis, with the Athens stock exchange general index surging more than 7 per cent at opening Monday and Greek bonds also rallying.

But the one-off proportional representation system in effect Sunday means ND only gains 146 of Parliament's 300 seats, five short of a governing majority. The new elections, expected no later than July 2, will revert to the previous system that grants the first party a bonus of up to 50 seats. That would ensure Mitsotakis a comfortable majority for a second term in power if Sunday's result holds.