News

    Greek Coalition Talks End in Stalemate

    A kiosk selling newspapers in central Athens, Greece, May 7, 2012.
    A kiosk selling newspapers in central Athens, Greece, May 7, 2012.

    The head of Greece's conservative party, Antonis Samaras, says he is unable to form a coalition government.

    Samaras, whose New Democracy party won the most votes in Sunday's election, was given the first chance to form an administration by President Karolos Papoulias.

    But after holding talks Monday, Samaras failed to convince other parties to join his bloc so he could gain the majority in the 300-seat parliament.

    Now, the leftist party that came in second will get a chance to cobble together a ruling alliance. If those talks fail, the party that came in third will get the mandate.

    No agreement could force new elections next month.

    Meanwhile, nervous European leaders maintained pressure on Greece to continue respecting the terms of a financial bailout. In casting their ballots, Greek voters appeared to favor parties that opposed austerity requirements imposed on Athens in return for more than $300 billion in two bailouts.  

    Also Monday, German Chancellor Angela Merkel said it was "of utmost importance" that Greece sticks to its reform path, although she acknowledged that this was "difficult."

    A spokeswoman for the European Commission said Brussels "hopes and expects that the future government of Greece will respect the engagements that Greece has entered into."

    The bailout deal, struck in February with the European Union, the International Monetary Fund and the European Central Bank, aims to clear the way for Greece to return to financial markets by 2015.

    Some information for this report was provided by AP and Reuters.

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    Comment Sorting
    Comments
         
    by: Paul Van Tricht
    May 07, 2012 3:19 AM
    :
    In all the world—across the sea
    Or in the tropics—could there be
    One closed-door shady deal that lacks
    Conspirators from Goldman Sachs?


    They are too blame!

    by: RS
    May 07, 2012 2:39 AM
    The bankers lent all this money, loans to governments, almost any purpose & to just about anybody who asked......totally risky & stupid. The bankers are responsible for the financial crisis as they did not do their jobs properly. Kill some bankers, string them up, hang, draw & quarter them as a lesson to future financial morons who get in power. Make the bankers & their masters pay! Don't bail them out, let them fail, let's have a new system not run by the rich for the rich. Enough is enough!

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