Polls open in crucial Greece election

The nation is undergoing financial and political turmoil, burdened by shriveling finances and a long-running recession.

Two parties, New Democracy and Syriza, are considered front-runners going into the vote.

The parties were running neck-and-neck, according to the last official polls. No new polls are allowed 14 days before the vote.

What will Greek elections mean for the country's future?

Should a working majority emerge under the leadership of the moderate New Democracy party, Greece may follow through with the next installment of public spending cuts demanded by its "troika" of creditors: the European Commission, the International Monetary Fund and the European Central Bank.

But if the left-wing Syriza party emerges as the largest, with its commitment to tear up the current bailout agreement, markets will begin to anticipate a "disorderly exit" from the eurozone.

Sunday's election was called after an initial ballot on May 6, the first since Greece's financial crisis exploded, failed to deliver a majority for any one party and talks to create a government failed.

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