ANTI-AUSTERITY party Syriza has secured victory in the Greek national elections, prompting fears of a fresh eurozone crisis.
Election officials said early projections showed the left-wing group gaining 150 of the 300 seats in parliament, but the margin of error meant the final number could be between 149 and 151.
If Syriza fails to win at least 151 seats, it will have to find a coalition partner, or secure pledges of support that would allow it to form a minority government.
The party's leader Alexis Tsipras has pledged to renegotiate Greece's 240 billion-euro (£179bn) international bailout deal and reverse many of the reforms put in place by creditors, potentially placing the country on collision course with Angela Merkel's Germany, Europe's largest economy.
There are also fears a Syriza-led government could refuse to repay the €17bn of debt due in 2015, triggering a default and exodus of investors.
However, speaking just after the results, Mr Tsipras said the change in power means Greece can "leave behind five years of suffering".
He added: "Our victory is of all the peoples of Europe who are struggling.
"I would like to assure you the new Greek government will be ready to co-operate and negotiate with our friends, with a just and useful solution so that Greece will return Europe to development and social stability and values like democracy and solidarity.
"In this sincere dialogue, Greece will come with its own proposals, its own national plan of reforms and radical changes with a four-year plan, without shortages, without unrealistic proposals about our debt.
"The new Greek government will prove the Cassandras wrong. No mutual conflict but no continuation of our submission in front of us. We have a great opportunity for a new beginning, a new Europe.
"Let us raise the sun over Greece. Let us raise the sun of democracy and dignity."
The party leader left the stage in Athens to the sound of Rock The Casbah.
He is hoping for a big enough margin of victory over outgoing Prime Minister Antonis Samaras's incumbent conservatives to be able to govern alone.
He has vowed to reverse many of the austerity measures imposed since 2010, including cuts in pensions and the minimum wage, some privatisations and public sector job losses.
Official results from 17.6% of polling stations counted showed Syriza with 35% and Mr Samaras's New Democracy (ND) with 29.3%. An exit poll on state-run Nerit TV projected Syriza as winning with between 36% and 38%, compared to ND with 26-28%.
Mr Samaras conceded defeat shortly before Mr Tsipras made his speech, adding that he had called his opponent to congratulate him.
He added: "The Greek people have spoken and everyone respects their decision.
"The result is not pleasant for us but it shows that New Democracy is standing up despite the very difficult measures.
"New Democracy, it seems, lost only two percentage points since the elections in 2012 and will play a very important role as a guarantor of stability and reforms that we need to go forward. I guarantee that I will play a role to the full."
The euro fell in early trading in markets in Australasia as traders reacted to exit polls showing a convincing lead for Syriza, with the currency nearing the 11-year low against the US dollar it hit last week.
The currency lost nearly half a cent to around 1.1167 dollars after hitting 1.1115 last week, its lowest since September 2003.
The result means there will be watchful eyes on the currency when markets in Europe on Monday morning.
Ukip leader Nigel Farage said the result was a "desperate cry for help from the Greek people".
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