Greece's moderate, New Democracy ( Nea Demokratia ) party has won the election re-run. Party leader Antonis Samaras (in picture) narrowly won yesterday's ( June 17 ) election and is now seeking to form a governing coalition.

He described the result as an expression of the will of the Greek people to remain in the eurozone and honor the country's commitments. “This is a victory for all Europe,” said Samaras in a press conference following the announcement of the results.

He also called on all political parties that share a desire to stay in the eurozone and honor the bailout to join together in a stable a government and promised, “that the sacrifices of the Greek people will bring the country back to prosperity.” Samaras also hinted at some renegotiation of the bailout agreement, saying that with Greece's European partners he would try to find the right mix of austerity and growth stimulating measures.

The left wing Syriza party, came second in the first election, but was unable to agree with the other two parties and form a government, has announced that it will not support the bailout and will instead go into opposition against whatever government Samaras and New Democracy form.

Liam Lever, liam@romania-insider.com