Beware the two-party system

With leftist SYRIZA in free fall, the likelihood of a return to the pre-crisis state of having what is effectively a two-party system, with PASOK in the main opposition, can by no means be ruled out. The socialist party has already deposed SYRIZA from second place in public opinion polls, even though its ratings do not point to it being popular enough to becoming a governing force. Following the election of a new leader, however, it may, under certain circumstances, increase its upward momentum.

A simplistic analysis could reach the conclusion that the political system is returning to the normality of a traditional bipartisan system now that the economic crisis is over, with the political forces of the center-right and center-left alternating in government. But the crisis is not over. The threat of being ousted from the eurozone may no longer loom, but the country has not...