Greece prime minister Mitsotakis hails election victory as ‘political earthquake’
Greek prime minister Kyriakos Mitsotakis hailed his party’s victory in the parliamentary elections as a “political earthquake” after the conservatives secured a smashing win but fell short of forming a majority. With most votes counted after the election on Sunday, the ruling New Democracy party has secured a commanding lead with 40.8 per cent of the votes, while the previous governing party, Syriza, trailed far behind with 20.1 per cent for the 300-seat Hellenic Parliament. However, Mr Mitsokais’s party fell just short of the majority required to form a government on its own, as the fate of the new government still hangs in limbo. According to projections by Greece's interior ministry, New Democracy is expected to win 145 seats in parliament, which is six seats shy of an absolute majority. Starting from Monday, Greek president Katerina Sakellaropoulou will give the top three parties - New Democracy, Syriza, and the Socialist PASOK – three days each to attempt to form a coalition government. If all three parties fail, Ms Sakellaropoulou will appoint a caretaker government to prepare for new elections to be held approximately a month later. Without Mr Mitsotakis, the numbers for potential coalitions do not add up, as Syriza has 72 seats, PASOK has 41 seats, the Communist KKE party has 26 seats, and the right-wing Hellenic Solution party has 16 seats. The KKE party has already stated that it will not participate in any alliance, while the Hellenic Solution party has been critical of both New Democracy and Syriza. Mr Mitsotakis, who served as prime minister and leader of the New Democracy leader, had expressed his desire for a strong one-party government, but he believes that the election results provide a clear mandate. Addressing supporters outside party headquarters in Athens, Mr Mitsotakis called his party’s victory a “political earthquake”. "The ballot results are decisive. They show that New Democracy has the approval of the people to rule, strong and autonomous." This victory for Mr Mitsotakis is quite significant, as his administration faced numerous challenges, including a wiretapping scandal, the Covid-19 pandemic, a cost of living crisis, and a fatal rail crash that sparked public outrage. However, it comes as a significant setback for Syriza and its leader Alexis Tsipras, who rose to power in 2015 on the wave of public dissatisfaction with other parties' handling of the debt crisis that severely impacted Greece's economy for over a decade. The MeRA25 movement, led by former Syriza finance minister Yanis Varoufakis, failed to secure any seats in parliament. Mr Tsipras, who congratulated Mr Mitsotakis on his win, noted that the race is not over and talked about the possibility of a second election. “Battles have wins, and losses,” he said. “The electoral cycle has not ended yet ... it is very possible there will be a second election.” Greece faced the threat of a eurozone exit during the height of its debt crisis in 2015, leading to the country accepting a third bailout under Mr Tsipras' leadership. Mr Mitsotakis, elected in 2019, focused his campaign on improving the financial conditions of the Greek people, promising to raise wages and pensions that were cut during the crisis. Panos Koliastasis, an adjunct assistant professor of politics at the University of Peloponnese, attributed Mitsotakis' victory to his emphasis on addressing financial concerns and his clear proposal for an autonomous government. “He also had a clear proposal of (how) he will be in power - that of an autonomous government,” he said. “The alternative of Syriza, of a coalition government, wasn’t that realistic because others refused to cooperate.” The elections in Greece are held every four years to determine the composition of the 300-seat parliament. Additional reporting by agencies Read More Focus on coalition horse-trading as Greek election looks unlikely to deliver a strong winner Out of bailout spotlight, Greeks feeling recovery pains at election Daughters’ desperate plea after British grandmother vanishes on Greek island Polls open in Greece's first election since international bailout spending controls ended Focus on coalition horse-trading as Greek election looks unlikely to deliver a strong winner Out of bailout spotlight, Greeks feeling recovery pains at election
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Everton stare into the relegation abyss – a mess of their own making
If the first 11 have presented a problem, the greater warning came on page 11. Page 11, that is, of Everton’s annual financial report. “Conditions indicate the existence of a material uncertainty that may cast significant doubt about the group’s ability to continue as a going concern,” it read. Those conditions, in the curious way Everton phrased it, were “if the assumptions in the relegation scenario were not achieved”. Their assumptions were that a storied club, founder members of the Football League and the club who have played more top-division games than any other in England, would stay up. With one game to go, they are one place above the relegation zone, their fate in their hands but dicing with disaster. A win against Bournemouth will keep Everton up. Anything else would doom them if Leicester win; lose and Leeds would leapfrog Everton with a victory of their own. Clubs in such positions are often imperilled; but not with an existential threat. As it is, Everton’s majority shareholder, Farhad Moshiri, has provided assurances of his intention to fund the club if they go down. But, as was noted in the annual report, they are not legally binding. There is a separate question of whether Moshiri could afford to: certainly both his and Everton’s finances appear slighter since his long-time business partner Alisher Usmanov was sanctioned by the British government amid Russia’s invasion of Ukraine. The Uzbek-Russian billionaire’s company, USM, had sponsored Everton’s Finch Farm training ground; he had paid for the first option to the naming rights of their new stadium at Bramley-Moore Dock. And Everton have needed money: even with Premier League revenues, they lost £44m in the last financial year; although that was dramatically better than losing £371m in the previous three years, albeit partly due to Covid. They face a Premier League investigation into alleged Financial Fair Play breaches, though they are adamant all recent deals have been run past the league to ensure they are compliant. But Everton may be staring into the abyss. Manager Sean Dyche said recently that livelihoods were on the line. So is much more. Everton have enjoyed 120 years of top-flight football, the last 69 of them unbroken. But Goodison Park, where Pele and Eusebio scored in the 1966 World Cup, could host its last Premier League game against Bournemouth on Sunday. Everton are due to move to Bramley-Moore Dock in 2024; finishing that requires money and they are in an exclusivity period for negotiations with the American firm MSP Sports Capital to invest in the club. An announcement could be forthcoming in the next weeks if Everton stay up; go down, however, and the context changes dramatically. Such funding, or indeed such a reliance on last-day results, may not be required had Everton not spent so much so badly in the Moshiri years. Their outlay on signings has topped £600m and yet the team was in such a state of disrepair that, for much of last week’s match against Wolves, their team, with the exception of Jordan Pickford, consisted solely of centre-backs, central midfielders and wingers. It was not an innovative tactical ploy. They did not have a fit full-back or, after Dominic Calvert-Lewin went off with his latest injury, a striker trusted to take the field. Which highlights one of the fundamental flaws in Everton’s thinking. Last season, Calvert-Lewin scored the goal that kept them up, but only after Richarlison had struck five others in the run-in. Richarlison had to be sold to bring in £60m before 30 June, the end of the Premier League’s financial year. Since then, Everton have banked on the fitness of an unfit player, who may now miss what could be billed as one of the biggest games in their long history. Meanwhile, Neal Maupay, the summer striking signing, is on a run of 27 games without a goal; he may count as former manager Frank Lampard’s greatest error, although that is a competitive list. Yet Everton have been prisoners of their past. Their summer deals tended to be for players with low up-front fees, signing those who they could get rather than, in some cases, who they ideally wanted. It means they still owe much of the cost of Dwight McNeil and Amadou Onana, who should at least command sizeable fees if they have to be sold, and Maupay, who may join the list of Everton buys who are unsellable. If other clubs can at least compensate for relegation by selling Premier League performers, Everton have fewer who would bring in large amounts – Calvert-Lewin could be a £50m forward if fit, but not otherwise, so that may only leave Pickford, McNeil and Onana – and still owe plenty. Relegation could be attributed to their past financial mismanagement. They were unable to buy in January until Anthony Gordon was sold, seeing targets such as Danny Ings go elsewhere (somewhat farcically, Arnaut Danjuma, who could have been a high-class loanee, got off a train at Crewe when he learned of Tottenham’s interest, switched platforms and hopped on one back down to London). They botched the end of the window and, if they were keen not to repeat past mistakes by overpaying for undistinguished players, the eventual verdict may be that the lack of another forward cost them their Premier League status; they enter the last game of the campaign with a mere four goals from specialist strikers all season. They face Bournemouth, who beat them twice in a week before the World Cup, scoring seven goals. Hindsight suggests Lampard perhaps should have been dismissed then, but he engineered a memorable escape from relegation last season. Perhaps, though, he just delayed it by a year. And if so, Moshiri’s seven years of clueless transfer-market excess might render it the most expensive relegation of all. And, considering the potential consequences to the club, among the most damaging. Read More ‘It is theatre’: Inside the emotional chaos of a final-day Premier League relegation battle Premier League relegation: What do Leeds, Everton and Leicester need to survive?
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