Greek main parties 'suffer big losses' at polls

Early results in Greece's parliamentary election suggest the two main parties have suffered dramatic losses.

With 11% of the vote counted, centre-right New Democracy is in the lead with 22%, down from 33.5% in 2009.

Centre-left Pasok is in second place with 16%, down from 43.9% in the last elections. Syriza, a left-wing coalition, is in third place with 15%.

Pasok and New Democracy, in coalition since last November, were expected to lose support to anti-austerity parties.

There is widespread anger across Greece to harsh measures imposed by the government in return for international bailouts.

Earlier, exit polls put Syriza - which opposes the government's austerity measures - in second place, narrowly ahead of Pasok.

The neo-Nazi Golden Dawn party could enter parliament for the first time if the exit poll prediction of it winning 6.5 -7.5% of the vote comes to fruition.

As a long day of voting ended, the exit polls suggested what many expected - a huge move away from the two big pro-austerity parties that have long dominated Greek politics.

It is possible that the poll does not reflect the final results. But if accurate, it would echo the views of many here.

This could spell intense instability for Greece. New Democracy may be unable to form a government, there may be calls for a fresh election and possibly even anti-bailout parties from the left and right may attempt to form a coalition.

That could threaten Greece's austerity path and raise fresh questions over its membership of the euro. Another deeply uncertain chapter in the Greek drama might now begin, sending shockwaves throughout the eurozone.

"The truth is here - the reality of this result is that at the moment this produces no government," said Theodoros Pangalos, outgoing deputy prime minister and senior Pasok official.

"It is not a question at the moment of who gets a little more or a little less."

If no party win enough votes to form a government, the winner will have to seek a coalition with rivals.

Coalition negotiations can take place over three days. If they fail, the party in second place can try to form a coalition, and if still unsuccessful, the third party will receive the mandate.

If still no coalition emerges, Greece will go to another election - a prospect which would alarm Greece's international creditors.

The ability of any new government to carry on with the austerity programme will be crucial for Greece's continued access to bailout funds from the EU, the European Central Bank and the International Monetary Fund - the so-called Troika.

Any political instability may prompt fresh questions over the country's place in the eurozone.

Under the current plan, a further 11bn euros of savings in spending are due to be found in June.

Othan Anastasakis, director of south-east European studies at Oxford University, said it would be unprecedented if no party won more than 20% of the vote.

"The whole landscape becomes even more unpredictable after the election. We don't know if there will be a coalition or how long it will survive. I don't see it surviving very long.

"Greeks are sending a very strong message abroad, which is 'enough with austerity'."

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