The pro-austerity New Democracy party is projected to come in first in Greece's general election, sealing the fate of Greece and the euro.

With about half of the votes counted, the conservative New Democracy party maintains the lead with 29-point-six percent of the votes, more than two percentage points ahead of the anti-bailout Syriza party.

The pro-bailout Socialist PASOK is in third place with 12 percent of the votes.

With these projections, the New Democracy is expected to pick up about 129 of the parliament's 300 seats, with Syriza winning 72 and PASOK taking 32 seats.

The New Democracy party will then be able to a form a pro-euro coalition government with the Socialist party as had been previously proposed.

As a result, global financial jitters triggered by concerns that Greece could leave the joint euro currency are expected to ease down for the time being.