Spain's new anti-austerity party, Podemos, has hailed the success of Syriza, seeing it as a precedent for its own electoral chances in the Spanish election later this year.

"Hope is coming, fear is fleeing," said Podemos party leader Pablo Iglesias (below), quoted by AFP news agency. "Syriza, Podemos, we will win."

He told a gathering of about 8,000 party faithful in the eastern city of Valencia: "We are going to be smiling tonight."

Podemos shocked the Spanish political establishment this winter by taking the lead in opinion polls.

Image source, EPA

Roger Dawson in Suffolk, UK emails: The Greek people voted to get rid of the political establishment that got them into the mess in the first place - who can blame them for rejecting the imposition of outdated economics of the 1920s that caused the Great Depression? A 21st Century solution is necessary and now there is hope that it will be found.

So what exactly is Syriza and what does the party's leader Alexis Tsipras stand for? Greece's Syriza prepares for power

Two new exit polls based on 100% of the vote suggest Syriza have won 36% or 38% of the vote while New Democracy polled 26% or 28% of the vote. The margin of victory is 10 points, down from 14 points at 17:00 GMT.

New Democracy supporters are watching power slip from the hands of their party after less than three years in office.

Image source, Getty Images

Bill Xenakis emails: Greece, my country, needs all parties support towards a national strategy to increase exports, promote foreign investments with a steady and clear corporate tax law, perform privatisations of public companies with added value to the economy and of course a campaign to all Greeks to change philosophy about tax evasion, social responsibility and value creation.

The smiles say it all: Syriza supporters watch exit polls at the party's campaign tent in Athens.

Image source, AP

Piers Scholfield, BBC News Athens

tweets, external: Young lady at #Syriza celebration: "this is a new beginning for all of Europe - the end of austerity"

Jasmine Coleman, BBC News, Athens

tweets, external: More music, more smiles, more cigarette smoke inside #Syriza tent

Syriza party spokesman Panos Skourletis says it is clear his party won a "historic victory that sends a message that does not only concern the Greek people, but all European peoples", AP news reports. "There is great relief among all Europeans," he added. "The only question is how big a victory it is."

If you are just joining us, welcome to our live coverage of Greece's general election. A series of exit polls suggests anti-austerity party Syriza has won. The question is whether it can secure 151 seats for an outright majority.

Germany, the eurozone's biggest economic player, is warning Greece it must stick by its bailout commitments. Jens Weidmann, head of the Bundesbank, said he hoped the new government would not make promises the country could not afford, Reuters news agency reports.

"I believe it's also in the interest of the Greek government to do what is necessary to tackle the structural problems there," he told German public broadcaster ARD. "I hope the new government won't call into question what is expected and what has already been achieved."

Konstantinos Tsouparopoulos in Athens emails: The big challenge for Syriza is finding any other credible parties to form a coalition.

Athens-based journalist Omaira Gill

tweets, external: State TV [channel] Nerit shows that the unemployed voted in huge numbers for #Syriza

"Triumph for euro-horror Tsipras": headline in Germany's biggest circulation tabloid Bild.

Image source, other

Ioanna in Patrae emails: There will be no hero who will save the country from total ruin, we are already there and the way back is certainly going to be long and difficult.

Derek Gatopoulos, Associated Press writer

tweets, external: One step from conceding: Health Minister Makis Voridis: ""What I see from exit polls is Syriza has won, and we congratulate them"

Soula Bropobsalti in Thessaloniki emails: I am not convinced about the good intentions of the politicians. For example the prime minister said he would do other things but the result was the opposite. He is a liar to me... We have one million unemployed people. Everyone is concerned about their financial security. I want to be part of the European Union but I also want some change in the European Union, with regard to the economy. I want to feel more like I'm in a brotherhood. When voting, I considered jobs, unemployment and public health.

"Hope has won!" - Syriza's first tweet, external (in Greek) on the results.

Image source, other

Chris Morris, BBC News, Athens

tweets, external: If exit polls are correct (...IF...) Syriza could form government on its own. Need to watch how many parties cross 3% threshold.