Greece’s pro-bailout New Democracy Party has narrowly won the country’s parliamentary elections. New Democracy edged out the anti-bailout Syriza Party on Sunday by less than 3 percent. The election was seen as a critical referendum on an unpopular agreement that would hand Greece a $164 billion bailout in return for crippling austerity. The bailout’s rejection would likely have prompted Greece’s exit from the eurozone. The head of the New Democracy Party, Antonis Samaras, said he will form a coalition government that fulfills the bailout terms.

Antonis Samaras: “Today the Greek people expressed their will to stay anchored with the euro, remain an integral part of the eurozone, honor the country’s commitments and force their growth. This is a victory for all Europe. I call upon all political parties that share those objectives to join forces and form a stable new government.”

The second-place, anti-bailout Syriza Party has ruled out joining any coalition that agrees to uphold the austerity deal. Syriza Party leader Alexis Tsipras said the razor-thin election victory will embolden his party to mobilize bailout opposition in the streets.

Alexis Tsipras: “The government that will be formed with New Democracy at its core needs to seriously take into consideration that, on big issues, it can no longer proceed as previous governments had done. It cannot proceed insisting on a policy which has been proven to be in complete disharmony with the public’s will.”