Greece’s centre-right New Democracy party was celebrating a fresh mandate on Monday after winning Sunday’s snap parliamentary election, but with a sharply reduced majority that could weaken policy-making on structural reform.

With almost 99 per cent of votes counted, the conservatives had captured 41.8 per cent of the vote and 152 seats in the 300-member parliament, compared with 165 in 2004 when their landslide victory ended 11 years of socialist rule.