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Greece fails to form new government, going to elections

Published time: May 15, 2012 13:21
Edited time: May 15, 2012 18:13
Greek political leaders (from L to R): Democratic Left party leader Fotis Kouvelis, Socialist PASOK party leader Evangelos Venizelos, Conservative New Democracy party leader Antonis Samaras, Greek President Karolos Papoulias, head of Greece's Left Coalition party Alexis Tsipras and leader of the Independent Greeks party Panos Kammenos meet at the presidential palace in Athens May 15, 2012 (Reuters/Aris Messinis/Pool)

Talks between Greek parties aimed at forming a coalition government have failed. Party leaders will meet President Papoulias to decide on a caretaker Prime Minister and cabinet to govern until the new parliamentary elections.

­A new round of political crisis unraveled on Saturday when Socialist party leader and former finance minister Evangelos Venizelos played back from forming a coalition with other parties. 

Polls suggest the leftist Syriza bloc, which came second in the 6 May vote and rejects all further cutbacks, could become the largest party after a new election.

Syriza wants to renegotiate the bailout package but also wants to keep Greece in the euro.

However, many experts have already speculated that the new elections will probably accompanied by a drop-out from the eurozone.

Greeks are deeply divided over the harsh budget cuts which came as the price for international cash injections. The split greatly influenced the results of the recent parliamentary election, with no party gaining enough seats to form a government.

Comments (34)

GREEKS NEED TO RETURN TO DRACHMA (unregistered) 18.05.2012 12:04

Greece is a poor country and while having a respected currency is important, you cannot ride on a dysfunctional 'economic zone' to achieve it. Core/periphery--says it all really. The eurozone is a moronic experiment that has caused more pain and suffering than benefits from its exaggerated advantages. Greece trying to be in the Euro is like a ghetto dweller driving a Mercedes. And that goes just the same for the other periphery Eurozone nations. Germany IS the Eurozone, and THAT IS THE PROBLEM.

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Liberty (unregistered) 16.05.2012 09:30

@Molke and Chris: the problem is a little too complicated to make a simple statement as "IMF, Worldbank and NATO are not the good guys". You sound as Bush with his "axis of evil". I really hate people who think they can summarize a problem by using words as evil/good... Concer nin the EU, I am very glad that countries have to implement EU law into national law, and that those who do not are punished: that has allowed the EU countries to have a harmony in their legislation, which improved the rights of consumers, has attacked monopoly positions of big corporation which forces them to compete and improve their services/avoid artificial price setting, EU law also was crucial for human rights as countries can no longer use the excuse of 'sovereignty' to commit abuses to the basic rights of every human, etc. I could go on for hours about all the advantages of a supra national institution. However, I do agree that the parliament should be elected more democratically. But, the haters of the EU often forget to mention that even civilians can collect signatures to demand that a certain EU law is drafted: so those who pretend the EU is all happening above our heads are either liars/either ignorant, or both!!!

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Maple Leaf 16.05.2012 08:48

I wouldn't be surprised if Ameri can Wall Street bankers are playing a large role in the economic ruin of Greece.  We know for sure that the American Empire contolled International Monetary Fund is involved.  I really doubt that the CIA is at work here.  It's far too occupied with destablizing disobiedient governments around the world.

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