Difference between revisions of "Index.php"

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The EU and Germany have stressed Greece must keep to the terms of the two EU/IMF bailouts, after a surge of voter support for anti-austerity parties.
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Pressure is rising on Greece's national unity government to agree tough reforms demanded by the country's lenders.
  
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The two main parties, New Democracy and Pasok, attracted less than a third of the vote, in an election plunging Greece into political uncertainty.
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The EU, IMF and European Central Bank have made further spending cuts, labour market reforms and bank rescues a condition of extending a new bailout.
  
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Chancellor Angela Merkel said Greece's reforms were of "utmost importance".
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European Commission Vice President Neelie Kroes told a Dutch newspaper that there would be "absolutely no man overboard" if Greece left the euro.
  
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New Democracy leader Antonis Samaras will now face a struggle finding parties prepared to join a government.
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Greek party leaders are meeting on Tuesday amid a general strike.
  
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With about 99% of votes counted, centre-right New Democracy (ND) is leading with 18.9%, down from 33.5% in 2009.
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A previous meeting on Sunday night proved inconclusive, leading to further last-minute talks between Prime Minister Lukas Papademos and the troika of official lenders on Monday.
  
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New Democracy will try to form an austerity-supporting pro-European coalition government, perhaps with a third party, because it would not gain enough with Pasok to form an absolute majority.  
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The leader of the left-wing Syriza party coalition, Alexis Tsipras, repeated a call on Tuesday either for Greece's debts to be written off, or else for the country to pause its debt repayments for three years.
  
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But the anti-bailout party Syriza will also try to form an alternative coalition government. There could be a clash of the two - we could be facing fresh elections within weeks.
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Meanwhile, public transport and the country's ports ground to a halt as two of the largest Greek public-sector unions began a strike on Tuesday in protest at continuing austerity.
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This country is now placed into a period of intense political instability - and by extension the eurozone as a whole.
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A majority of Greeks have voted against the bailout and against the austerity, which will make it very difficult for the EU or IMF to call for yet more austerity here.
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The success of the new-right Golden Dawn party indicates how comprehensive a rejection of the political mainstream, the bailout and austerity there has been.
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The stability and the future of Greece are now in doubt once again. That will bring a lot of dismay to the financial markets and to the eurozone as a whole.
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Euro declines on election results
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A radical left coalition, Syriza, came second with 16.8% and a party of ultra-nationalists - Golden Dawn - polled almost 7%.
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Speaking to reporters on Monday, German government spokesman Steffen Seibert spelt out Berlin's position that "the agreed programmes must be adhered to". He added that Germany would support Athens in returning to competitiveness and financial stability, "whatever its government is".
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Revision as of 20:05, 14 May 2012

Pressure is rising on Greece's national unity government to agree tough reforms demanded by the country's lenders.

The EU, IMF and European Central Bank have made further spending cuts, labour market reforms and bank rescues a condition of extending a new bailout.

European Commission Vice President Neelie Kroes told a Dutch newspaper that there would be "absolutely no man overboard" if Greece left the euro.

Greek party leaders are meeting on Tuesday amid a general strike.

A previous meeting on Sunday night proved inconclusive, leading to further last-minute talks between Prime Minister Lukas Papademos and the troika of official lenders on Monday.

The leader of the left-wing Syriza party coalition, Alexis Tsipras, repeated a call on Tuesday either for Greece's debts to be written off, or else for the country to pause its debt repayments for three years.

Meanwhile, public transport and the country's ports ground to a halt as two of the largest Greek public-sector unions began a strike on Tuesday in protest at continuing austerity.

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