International Forex Inforamtion

ATHENS, Oct 4 (Reuters) - Greece's conservative Prime Minister Costas Karamanlis conceded election defeat and resigned as head of his party on Sunday after results showed the opposition Socialists winning a comfortable governing majority.

"I want to congratulate (socialist leader) George Papandreou for his victory. As every Greek, I hope he succeeds in the great challenge to deal with difficult circumstances," he told reporters. "I assume responsibility for the defeat and start procedures for the election of a new party president."

With about 45 percent of the national vote counted, the Socialists were ahead with nearly 44 percent against the New Democracy's 35 percent.

Papandreou has promised to tax the rich and protect the poor, while pouring money into a slowing economy. (Reporting by Dina Kyriakidou and Harry Papachristou; Editing by Sonya Hepinstall)