A good outcome for Greece – and markets

After waiting three years, Kyriakos Mitsotakis is finally Greece's prime minister. His New Democracy party swept to power in legislative elections on Sunday, commanding a wide and comfortable majority over Alexis Tsipras' SYRIZA.

While the size of New Democracy's majority is partly the consequence of Greece's electoral system - which greatly benefits the largest party in the allocation of seats - its victory is unambiguous, giving the party and Mitsotakis a very strong political mandate to govern for the coming years. Though until recently something of a liberal outsider in a party dominated by conservative and populist politicians, Mitsotakis' leadership within New Democracy is now unchallenged. His comfortable majority will also give him ample margin to manage any internal dissent in the future.

New Democracy's election program - though scarce on detail - will...