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ANTONIS SAMARAS, leader of the New Democracy conservative party, speaks to supporters at an election kiosk in Athens on Sunday. The pro-bailout New Democracy party came in first in Greece’s national election.
ANTONIS SAMARAS, leader of the New Democracy conservative party, speaks to supporters at an election kiosk in Athens on Sunday. The pro-bailout New Democracy party came in first in Greece’s national election.
ATHENS, Greece

Greek election victor Antonis Samaras says he will continue efforts to build a broad coalition government, despite a refusal from the secondplaced Syriza radical left party to join in.

The conservative New Democracy leader says he will seek to engage as many parties as possible in the power-sharing effort.

Samaras spoke after talks today with Syriza leader Alexis Tsipras. He said he would persist in his efforts because debt-crippled Greece is in “immediate” need of being governed.

New Democracy came first in national elections Sunday, but without enough seats in Parliament to govern alone.

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The campaign was watched closely by global leaders and markets, while central banks stood ready to intervene in case of financial turmoil — as Sunday’s election was seen as a vote on whether Greece should stay among the 17 nations that use the euro.

A Greek exit would have potentially catastrophic consequences for other ailing European nations; the fallout would hit the United States and the entire global economy.

Leaders of the European Union appeared relieved that a pro-austerity government had a good chance now of being formed.

“Continued fiscal and structural reforms are Greece’s best guarantee to overcome the current economic and social challenges,” European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso said in a joint statement.

Asian stock markets climbed early today on the news of the conservative New Democracy party’s strong finish, as did those in Greece with Athens stocks gaining 5.4 percent in early midday trading.

Sunday’s vote “will probably ease fears of an imminent Greek euro exit,” said Martin Koehring of the Economist Intelligence Unit. “But the key question is how quickly can a government be formed?”

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With 129 of Parliament’s 300 seats, New Democracy lacks enough legislators to govern alone, and must seek allies among the pro-bailout Socialists, who came third.

But the deal that evaded Samaras after first elections on May 6 looks more attainable this time. With the Socialists’ backing he would control 162 seats, and could seek a further boost from the small Democratic Left party. While opposing the country’s harsh austerity program, that party has said it will do what is needed to help form a strong government.

Samaras received the presidential mandate to start power-sharing talks today, and he will have three days in which to build a coalition.

He said he would meet in the afternoon with leaders of all parties “that believe in Greece’s European orientation and the euro.”

Final results presented to President Karolos Papoulias gave New Democracy 29.66 percent, followed by the Syriza radical left coalition at 26.89 percent. The extreme far-right Golden Dawn party, whose members have been linked with violent attacks on African and Asian immigrants, came fifth with 6.92 percent; it won 18 seats — down from the 21 it collected on May 6.

Greece has survived for more than two years on rescue loans from its European partners and the International Monetary Fund. The vital bailouts are conditional on the country continuing with its deeply unpopular package of spending cuts, and pushing through new structural reforms.

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A statement late Sunday by Luxembourg Prime Minister Jean-Paul Juncker, who heads the eurogroup, said representatives of the EU, the IMF and the European Central Bank would visit Athens soon to discuss the way forward.

If Greece’s funding is cut off, it will rapidly run out of cash as the government still spends much more every year than it receives in taxes and other revenues. That would create such practical difficulties that Athens could ask to leave the euro, adopting a deeply devalued local currency that would boost competitiveness — but at the same time wipe out savings and send the cost of vital imports sky-high.

Syriza, which campaigned on a promise to renege on the bailout commitments, has ruled out cooperation with Samaras.

Speaking shortly after the result was announced, Samaras said Greeks voted to stay in the euro, foster growth and respect the country’s international commitments.

“This is a victory for all of Europe,” he said. “I call upon all political parties who share these objectives to join forces and form a stable new government.”

Samaras repeated campaign promises to honor the country’s bailout pledges.

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“We will work together with our partners in Europe in order to supplement the current policy mix with growth enhancement policies,” he said. “We are determined to do what it takes and do it fast.”

Greece’s broad-circulation Ta Nea daily said in an editorial today that party leaders — including Tsipras — must respect voters’ manifest desire for a coalition government.

“The country cannot waste a day,” the paper said. “It is clear from the arithmetic that after New Democracy’s victory a government can even be formed by two parties. But from a political viewpoint that will not suffice. All parties that say they believe in the country’s European future must actively prove their respect for the message of the elections.”


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