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January 14, 2014 AT 6:41 AM
Greece's once-mighty socialist PASOK party will team up with a new center-left group to contest European Parliament elections in May rather than run alone, after its support was decimated by the country's debt crisis. The party, a junior partner in the coalition government led by Prime Minister Antonis Samaras, has been fighting to survive as a political force since backing austerity cuts and is hoping the new alliance will help revive its fortunes. Latest polls show Samaras' conservative New Democracy party tied with the leftist, anti-bailout Syriza party, while PASOK's support is down to just 5-6 percent, from 43 percent when it won the national election in 2009.