Greek Election Favors Pro-Bailout Party

Greek voters narrowly favored a pro-bailout party in parliamentary elections on Sunday, a result that is likely to calm world markets and ease fears that the country will leave the euro zone.

Official projections showed the conservative New Democracy party as coming in first, giving it the chance to collect enough support to form a pro-bailout coalition and keep Greece in the euro zone.

Late Sunday night, Alexis Tsipras, the leader of the leftist Syriza party, conceded the election and congratulated the conservative leader of New Democracy, Antonis Samaras. Syriza had called for a rejection of the loan deal that Greece had made with foreign creditors.