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Former Greek Foreign Minister Launches New Political Party

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Nov. 22 (Bloomberg) -- Former Greek Foreign Minister Dora Bakoyannis yesterday launched her new ‘Democratic Alliance Party’ in a bid to attract Greeks who are increasingly disillusioned with the country’s two main parties.

“Society no longer has confidence in politics and politicians,” Bakoyiannis said in Athens yesterday, according to a copy of her speech posted on the party’s web site today. Around one in two Greeks abstained from voting in the second round of local and regional elections on Nov. 14.

Bakoyiannis, 56 years old and the first female Mayor of Athens, lost to Antonis Samaras last year in elections to lead the New Democracy party following its defeat in October elections by the socialist Pasok party of Prime Minister George Papandreou.

Samaras expelled Bakoyiannis from the party in May after she voted in favor of the $110 billion-euro ($151 billion) loan package to Greece by the European Union and International Monetary Fund.

The Democratic Alliance intends to become the catalyst for a series of sweeping changes that will lead to a growing coalition of Greeks of all political views, Bakoyainnis said. The party’s priority is to “build a healthy, free and competitive economy,” she said.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

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