Former Greek Prime Minister George Papandreou expressed the view that his newly-established movement could form an alliance with the party leading in opinion polls SYRIZA.

Papandreou announced that he is willing to cooperate with the likely winner in the early parliamentary elections on conditions that SYRIZA agrees to hold a referendum on reform policies.

According to analysts, the former Prime Minister, who recently split from PASOK and founded the Movement of Democratic Socialists, is attempting to make a comeback on the political scene.

His party has the prospect of becoming a considerable factor after the early parliamentary elections on Sunday, in case it succeeds in passing the electoral threshold of 3 %.

Papandreou, who is firmly pro-Euro and pro-reformist, can have a moderating influence on the radical left rhetoric of SYRIZA.

Although SYRIZA's leader Alexis Tsipras has ruled out any alliances, except with the Communists, experts predict that he is likely to soften his stance if his party does not win a majority.

According to most opinion polls, the Movement of Democratic Socialists will remain just below the electoral threshold.

Last Tuesday SYRIZA dismissed Papandreou's call for post-electoral cooperation on the grounds that he was responsible for inviting the IMF and the troika in Greece, daily Kathimerini reminds.

Tsipras will be faced with a difficult situation if his party does not win an outright majority, as its only acceptable coalition partner – the Communists ruled out a possible alliance last week.