Greece’s pro-austerity party New Democracy has emerged as the narrow winner in the country’s general election.
The party beat of left wing rivals Syriza in a nail biting contest that will have huge implications for the Euro single currency.
Seen as a referendum on Greece’s continued membership of the under pressure euro, a win for New Democracy will ensure relative stability and a continuation of the tough measures imposed on Greece after two massive bailouts totalling 240 billion euros was made available to the nation.
The result will also be welcome news to Eurozone leaders especially German Chancellor Angela Merkel who had publicly called for Greeks to abide by the terms of the bailout agreement.
New Democracy leader Antonis Samaras was declared the winner after Alexis Tsipras, the leader of the anti-austerity Syriza party conceded defeat.
Mr Samaras said Greeks had voted to stay in the euro, and said he wanted to form a coalition government as quickly as possible.
Speaking in central Athens, Mr Samaras told supporters: “I will make sure that the sacrifices of the Greek people will bring the country back to prosperity.
“We are determined to do what it takes, and do it fast. I will work with everyone in order to achieve our national goal to come out of this crisis with social unity, jobs and security -for every Greek.”