INTERNATIONAL POLICY ANALYSIS Greece’s Painful Political Transition Analysis of the Upcoming National Elections NICK MALKOUTZIS May 2012 „ „ The 6 May general elections in Greece promise to be like no other in the country’s recent history. Since 1974, the country has been governed almost exclusively by ­centre-left PASOK and centre-right New Democracy, which have usually gathered more than 80 percent of the vote. However, opinion polls indicate this could be halved on May 6 and neither party will be able to form a government on its own. „ „ The sharp decline in the two parties’ popularity is a result of the damaging impact of the crisis, the unpopularity of some of the measures agreed with the European Union and International Monetary Fund and a disenchantment with the established political system. „ „ Greece’s parties have split into two broad camps: those who are willing to adhere to the EU-IMF loan agreement, or Memorandum, and those who oppose it and want it changed or scrapped. The options for coalition agreements after 6 May are limited since few parties are willing to cooperate with New Democracy and PASOK as that would entail implementing further austerity. „ „ Beyond the EU-IMF memorandum, other crisis-related issues such as growth and jobs, immigration and social cohesion have prominent positions on the electoral agenda. „ „ After five years of recession and two years of tough austerity, Greek society is in a state of flux. This has generated a sense of doubt that is reflected in the uncertainty about what will emerge from the period of political transition that Greece is going through.