Socialist opposition leader George Papandreou defeated Prime Minister Kostas Karamanlis in the Greek national election on Sunday.
As of 10 a.m. Monday, local time, with 99 percent of the votes counted the Socialists had more than 43 percent of the vote and had secured 160 out of an available 300 seats.
The ruling New Democracy party won 35 percent of the vote and captured 91 seats.
The win returns the socialist party to power after five-and-a-half years in the role of opposition after a loss in 2004.
Karamanlis congratulated Papandreou on his victory via phone, conceding defeat, and resigned as the president of his party in a press conference.
[Interview : Kostas Karamanlis, Greek Prime Minister] "At this time, I would like to congratulate George Papandreou on his victory, as every Greek hopes he triumphs over the economic difficulties that face him."
The New Democracy party had been pushing a tight fiscal policy in order to overcome the economic downturn, but failed to win over the people.
A rising unemployment rate, allegations of corruption by top officials and violent protests were also factors in Karamanlis's defeat.
Papandreou, in the wake of these issues, said. that he was ready to bring about meaningful change.
[Interview : George Papandreou, President
Panhellenic Socialist Movement] "We are here united in front of the great responsibility that we take on, that I take on, a responsibility for a change of course in the country, for a just, united, country full of humanity, development and progress."
Papandreou had pledged during his election campaign to enforce bold reforms, to fight political corruption and to protect the common people by increasing taxes for high-income earners.
Choi Won-young, Arirang News.
OCT 05, 2009
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Arirang Town
Tuesday, FEB 09, 2010, (KST) 
