Former Greek PM launches new party ahead of elections

Former Greek socialist Prime Minister George Papandreou launched on Saturday afternoon a new political party called "Democrat Socialists' Movement" which will take part in the upcoming Jan. 25 early general elections.

In a fully packed amphitheatre in Athens Papandreou called on Greeks to join the new progressive and reformist movement.

"We, Greeks can collectively work together to change Greece," Papandreou said, addressing the gathering. A few hours earlier the name and emblem of the new party, which is a rose, had been formally registered to the Supreme Court, according to the Greek legislation.

The founding declaration has been signed by hundreds of individuals, including former ministers and deputies in the parliament which was dissolved on Tuesday.

At least three leading members of PASOK, the party founded by George Papandreou's father and also former PM Andreas Papandreou, four decades ago and led by both, have already left the socialist party to join the new movement.

George Papandreou said that he decided to found the new party because he felt that PASOK, the junior coalition partner in the outgoing conservative-led government, no longer reflected the true values of democracy, socialism and sustainable growth which will be the pillars of the Democrat Socialist's Movement.

The former Premier (2009-2011) stressed that the new party aims to push forward a Greek plan to exit the five-year debt crisis, as the unpopular bailout deals first signed with international lenders during his term to avert a Greek default expire in late February.

According to political analysts in Athens the new movement will most likely split PASOK's voters and win over votes from the center-left River (Potami) party and the Radical Left SYRIZA party.

SYRIZA holds a small steady lead in all the latest opinion surveys. With pledges of a tough renegotiation of bailout terms with creditors, the party has refueled concerns of a possible Greek exit from the euro zone again, as it had happened in the 2012 general elections.

Political analysts see Papandreou and his new party as one of the possible kingmakers after the elections.

Neither SYRIZA nor the conservative New Democracy party of incumbent PM Antonis Samaras were expected to win outright majority and would need to strike an agreement to form a coalition government.

PASOK dominated Greek politics since the 1980s, but has dramatically lost ground after the outbreak of the debt crisis and according to some pollsters might not secure the 3 percent vote threshold needed to enter the next parliament.

"This decision was one of the most difficult in my life, but I have dedicated my political life to serve the country, the common good, to serve what I believe is right, fair, progressive, humane," Papandreou stressed during his speech on Saturday.

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