Senior Greek minister concedes defeat to left-wing party Syriza

A senior minister in Greece's governing conservatives has conceded defeat to the radical left Syriza party after today's general election.

“We lost,” Health Minister Makis Voridis told Mega TV. “The extent of that result is not yet clear.”

Supporters of left-wing Syriza party react after exit poll results in Athens. Pictures: AP

Mr Voridis, the conservative party’s parliamentary spokesman, said the government’s austerity policies, implemented to secure vital international bailouts, “make sense” but were cut short before they could bear fruit.

Syriza and its 40-year-old leader Alexis Tsipras has promised to renegotiate the country’s €240bn international bailout deal. Tsipras has also pledged to reverse many of the reforms that creditors demanded in exchange for keeping Greece financially afloat since 2010.

The anti-bailout rhetoric has renewed doubts over Greece's ability to emerge from its financial crisis that has seen a quarter of its economy wiped out, sent unemployment soaring and undermined the euro, the currency shared by 19 European countries.

Alexis Tsipras, leader of Greece's Syriza left-wing main opposition waves to his supporters after voting today. Pic:

Greece’s creditors insist the country must abide by previous commitments to continue receiving support, and investors and markets alike have been spooked by the anti-bailout rhetoric.

Greece could face bankruptcy if a solution is not found, although speculation of a “Grexit” – Greece leaving the euro – and a potential collapse of the currency has been far less fraught than during the last general election in 2012.

“What’s clear is we have a historic victory that sends a message that does not only concern the Greek people, but all European peoples,” Syriza party spokesman Panos Skourletis said on Mega television. “There is great relief among all Europeans. The only question is how big a victory it is.”

Mr Skourletis said the election results heralded “a return of social dignity and social justice. A return to democracy. Because, beyond the wild austerity, democracy has suffered.”

Greeks have faced years of austerity measures, including cuts in wages, pensions and government spending, and tax increases. Greece’s unemployment rate is 25.5%.

The exit poll on state-run Nerit TV projected Syriza as having won with between 35.5 and 39.5% – or 146-158 seats, compared to Mr Samaras’s New Democracy with 23-27% – or 65-75 seats.

If Syriza falls shy of the 151 seats necessary to form a government on its own, it will have to seek support from other parties – either in a minority government or as a coalition.

A Syriza government will see Mr Tsipras becoming Greece’s youngest prime minister in 150 years.