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Greece to vote in early parliamentary elections on Sunday

RIA Novosti

06:55 04/10/2009 ATHENS, October 4 (RIA Novosti) - Early parliamentary elections will be held in Greece on Sunday.

Opinion polls say Prime Minister Kostas Karamanlis' New Democracy party is lagging 6-7% behind the opposition PASOK (Panhellenic Socialist Movement) Party. According to the polls, PASOK now has enough support to form a one-party government. If the winning party fails to form a government, the parliament will again be dismissed and new elections will be held in November.

Karamanlis earlier said he would ask President Karolos Papoulias, who belongs to PASOK, to dissolve parliament because dealing with the complex situation in the country and the consequences of the global financial crisis required tough decisions.

Greece currently faces increasing unemployment rates and one of the biggest public debts in the euro zone, amounting to nearly 100% of its GDP. Its budget deficit almost doubled the euro zone maximum of 3% and continues to grow.

Karamanlis says an austerity program, which would include cutting budget expenses and freezing wages and pensions, is the only way to compensate for the impact of the global financial crisis on the Greek economy.

His opponent, PASOK leader George Papandreou, says the economy needs a stimulus package to spur the GDP growth. Under Papandreou's plan, about 2-3 billion euro ($3-4.3 billion) would be allocated to stimulate the economy, followed by significant investments into infrastructure projects, science and education. He also pledges a tax system reform and anti-corruption measures.

The ruling party dismisses PASOK's election program as "populist."

Both Karamanlis and Papandreou come from political dynasties and face off in the national elections for the third time. The previous two encounters were won by Karamanlis.

Over 4,000 people representing 27 parties have registered for the elections. Along with the two major parties, the Communist Party of Greece (KKE), the Coalition of the Radical Left (SYRIZA) and the Popular Orthodox Rally (LA.O.S.). are expected to clear the 3% threshold.

A total of 9.8 million people are eligible to cast their ballots in the vote.