Abstract
Significance The conservative New Democracy (ND) party won an absolute majority in the July 7 elections, potentially ending a decade of political turbulence which featured six elections and eight governments (two of them caretaker). ND leader Kyriakos Mitsotakis is a moderate who seeks extensive institutional and economic reform. Impacts Markets are reacting positively: the post-election seven-year bond was five times oversubscribed and the yield an historic low of 1.9%. Bank sales of non-performing loans will accelerate in the anticipated climate of economic rigour. Stalled infrastructure projects and privatisations will be started by next year, possibly even by the fourth quarter of 2019. The new administration says it will abide by the Prespa deal its predecessor signed with Skopje to end the Macedonian ‘name’ dispute.
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