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Supporters of Syriza Party react to exit polls at the party's election campaign centre in Athens, Greece, on Sunday, Jan. 25, 2015. Greek Prime Minister-elect Alexis Tsipras set up a confrontation with his European peers as he prepared to form a coalition dedicated to ending austerity, saying the era of bowing to international demands for budget cuts is over. Image Credit: Bloomberg

Greece rejected the punishing economics of austerity on Sunday and sent a warning to the rest of Europe as the left-wing Syriza party won a decisive victory in national elections, positioning its tough-talking leader, Alexis Tsipras, to become the next prime minister.

With 92 per cent of the vote counted, Syriza had 36 per cent, almost 8 points more than the governing center-right New Democracy party of Prime Minister Antonis Samaras, who conceded defeat.

The only uncertainty was whether Syriza would muster a parliamentary majority on its own or have to form a coalition.