Greek pro-bailout parties propose unity government

"The Greek people today voted for Greece to remain on its European path and in the eurozone. ... Voters selected policies that will bring jobs, growth, justice and security," party leader Antonis Samaras said.

 With 74 per cent of the vote counted, official results showed New Democracy with 30 per cent of the vote, ahead of the radical leftist anti-bailout SYRIZA party with 26.5 per cent, and the pro-bailout socialist PASOK with 12.5 per cent.
 SYRIZA party leader Alexis Tsipras conceded defeated late Sunday.
 While official results showed that no party had won enough seatsto form a majority government in the 300-seat parliament - just as in Greece's May 6 election - New Democracy and PASOK would have enoughseats to form a coalition government together.
 New elections were called after efforts to form a coalition government broke down after last month's vote.
 The plurality winner automatically gets a 50-seat bonus in Parliament and the right to try to form a new government. If itfails, the opportunity falls to the second-place party.
 European Union Commission President Jose Manuel Barroso and EU Council President Herman Van Rompuy welcomed the vote, saying they hoped a government could be formed soon and the bloc would continue to "stand by Greece."   "We salute the courage and resilience of the Greek citizens, fully aware of the sacrifices which are demanded from them to redress the Greek economy and build new, sustainable growth for the country, "they said in a joint statement from Los Cabos, Mexico, where the Group of 20 summit of leading industrial and emerging economies opens Monday with a focus on the euro crisis.
 "We look forward to work with the new government and to support the continued efforts of Greece to put its economy on a sustainable path."   Due to the drawn-out election process, any Greek government will have little time to implement demanded measures.
 European Parliament President Martin Schulz warned that the new government in Athens "must break the deadlock."   "We must help the Greeks come to their feet with a pact for jobs and growth and a bit more time to make the saving. Then they will be able to fulfil their obligations," said Schulz, a social democrat from Germany. "This is in the interest of Germany, as there will bedark times if the eurozone and the European Union break down."   In Brussels, the eurozone's finance ministers warned that austerity and economic reforms are the right way forward for Greece, while promising to continue helping the country.
 "The Eurogroup acknowledges the considerable efforts already made by the Greek citizens and is convinced that continued fiscal and structural reforms are Greece's best guarantee to overcome thecurrent economic and social challenges," they said in a statement.
 They said representatives from the European Union, European Central Bank and International Monetary Fund would travel to Athens as soon as a new government is in place to "exchange views" and prepare a review of Greek country finances, as required under bailout terms.
 An IMF spokesman said late Sunday that the crisis lender was "ready to engage with the new government on the way forward to help Greece achieve its objective of restoring financial stability, economic growth and jobs."   The first-place New Democracy and second-place SYRIZA parties have drastic differences about how Greece should face the demands for austerity measures, which are tied to the international bailouts that are keeping the country solvent.
 Samaras has promised to renegotiate parts of the bailout deal, insisting that Greece's priority should be to remain in the euro.
 SYRIZA leader Tsipras campaigned on a pledge to scrap the bailout agreement with the European Union and International Monetary Fund and reverse a spate of tax hikes and pension and salary cuts.
 He wants a new plan to revive the Greek economy, while ensuring Athens remains in the eurozone. Eighty per cent of Greeks want to stay in the eurozone, according to opinion polls.
 Failure to adhere to or renegotiate the bailout terms could prompt Greece's lenders to cut off the bailout loans, forcing the countryinto bankruptcy and out of the eurozone.
 Travelling with US President Barack Obama to the G20 summit, White House spokesman Jay Carney said: "We hope this election will lead quickly to the formation of a new government that can make timelyprogress on the economic challenges facing the Greek people."   Breaking with its practice of not commenting directly on elections in other countries, China welcomed the Greek results.
 "We believe Greece should stay in the eurozone to maintain the integrity and stability of the eurozone," said Deputy Finance Minister Zhu Guangyao, accompanying Chinese President Hu Jintao in Los Cabos. "We hope the new government will be on a solid footing andc an maintain stability."   Already the country's financial crisis is killing the weakened economy. Suicides are on the increase, unemployment has reached are cord high of more than 22 per cent, tens of thousands of businesses have shut down, and hospitals are running out of critical supplies.
 Many economists fear a Greek exit could spark a eurozone panic, forcing other heavily indebted European countries such as Portugal, Spain, Italy and Ireland to leave the currency bloc.