Greek parties bid to avoid new financial crisis

Greece’s splintered political landscape means small, often relatively new parties may determine whether the winner of elections next month can cobble together a lasting government and avoid a new financial crisis.

The January 25 vote marks a showdown between the conservative New Democracy party of prime minister Antonis Samaras, who imposed unpopular budget cuts under Greece’s international bailout deal, and the radical leftist Syriza of Alexis Tsipras, who wants to cancel austerity along with a chunk of Greek debt.

Syriza holds a lead over New Democracy in polls, although this has narrowed to only about three percentage points in the run-up to the election, called after parliament failed to elect a new Greek president.