Greece has gone to elections. The results are awaited in the wee hours of Monday. This is the second time in almost in a month’s time Greece has gone to the polls. Last time it is on 6th of May, 2012; the people of Greece went to cast their vote; either favouring the austerity measures imposed on them by the Co-European Union countries or else against the austerity. The results of May 6th led to a stalemate, as no party contesting the elections could garner enough votes to form the Government. Thus the second round of election was scheduled for this17th of June. But, despite the failure to elect a ruling party, the Greeks have found the appeal of a party interesting, during the last round. It is none other than ‘Syriza’, the party of the far left in Greece which stands against the ‘austerity’ tooth and nail.  In the first round of elections Syriza emerged as the second largest vote winning party. The New democracy, which is a conservative party and which is in favour of the ‘Austerity’ measures has emerged as the number one party in terms of votes. But neither of these parties got enough number of votes and seats to form the Government. There are other parties too on the Greek political landscape, which too shared some seats. And all said and done; both Syriza and the New Democracy failed to forge a coalition Government by persuading the other parties that could provide them the majority in the parliament.  Common people of Greece are losing their jobs (a quarter of the country is unemployed,)undergoing wage cuts, losing pensions, forgoing their social security benefits...simply there is no hope left for them if the Austerity measures imposed by the European Union continue. Now the Syriza party promises them, that it would say good bye to the ‘Austerity’, impose taxes on the rich, nationalize the banks and in one word restore the hopes of those people. But the heads of the European Union countries ;from the conservative German head of the State to the newly elected ‘socialist’ leader of France-are busy warning the Greeks from voting to the Syriza party and thus against the Austerity measures. Because if the austerity measures are pigeonholed, the loans lent by these other European countries to Greece could not be recouped. So these countries insist on Greece to starve itself to death and pay back their loans.  During the present polls Syriza might perhaps get the lead over New Democracy, as some surveys show. It is a neck to neck battle between these two rivals now. In case Syriza manages to win the majority and form a Government, it could mean immediate doom to the politics of ‘austerity’ advocated by the European Union countries led by Germany. That also means the bailout funds to the bankrupt Greece would stop flowing instantly. Then the bankruptcy of Greece would become an official fact. Which could lead to the immediate turmoil in the banking sector of the major European Union countries, leading almost to the bank runs in those countries. Equity markets worldwide too may tumble in to turmoil. The question now is ‘does this Monday mean Mayhem’ in the world markets from New York to Tokyo? Let us wait and see...it is hardly a few hours away down the line...But anyway the real question is that, would the world markets bleed slowly to the bottom or else they collapse all of a sudden...it is because, even the victory of the conservative New democracy party in the Greece elections, is not going to save the European Union and the Greece too...that scenario could prolong the death pangs by another few weeks or months..that is all that...because the list of the European Union countries that are already in the bailout mode or else are newly in the ranks of the ones asking for the same includes-Ireland, Portugal,Spain,Italy and of course the one we are worried about now i.e. Greece...