OCT. 2, 2012 – Georgian president Mikheil Saakashvili concedes defeat in a parliamentary election
STORY — Georgia’s opposition coalition, Georgian Dream, has defeated President Mikheil Saakashvili’s party in a surprise parliamentary election win that will usher in a new political era.
Results from the Central Election Commission suggested that Georgian Dream had won 52% of the vote compared to just over 40% of the vote for Mr Saakashvili’s United National Movement party, confirming an early exit poll.
A few hours later Mr Saakashvili conceded defeat to Georgian Dream, whose main backer is Bidzina Ivanishvili, Georgia’s richest man.
Victory for Georgian Dream in one of the most bitterly fought elections in post-Soviet Georgia is nothing short of siesimc. Next year, Georgia formally adopts a new constitution that will hand more powers to the prime minister.
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