Arab Today, arab today euro exit threat hangs over greek election
Last Updated : GMT 18:36:37
Arab Today, arab today
Arab Today, arab today

Euro exit threat hangs over Greek election

Arab Today, arab today

Arab Today, arab today Euro exit threat hangs over Greek election

Athens - AFP

Greeks readied for their second election in six weeks with all the top candidates now calling for renegotiation of a bailout deal despite warnings that Greece must toe the line or leave the euro. Sunday\'s election will be watched around the world amid concern over the shockwaves that a Greek euro exit would send through the global economy and will play into talks by European leaders divided on how to resolve the debt crisis. \"To be or not to be in the eurozone? That is the question,\" said Lucas Papademos, a former prime minister and European Central Bank vice-president, paraphrasing William Shakespeare\'s Hamlet as Greece\'s own tragedy unfolds. The New Democracy conservatives and Syriza radical leftists have been running neck-and-neck in the polls for an election which was triggered by an inconclusive vote on May 6 in which no party could form a governing coalition. Unofficial recent polls have given a slight advantage to New Democracy -- a rumour that led to a 10.1-percent rally on the Athens stock market on Thursday. That boost petered out on Friday, however with the market down 1.0 percent. New Democracy leader Antonis Samaras, 61, presents himself as the guarantor for Greece\'s membership in the eurozone although he says he wants to renegotiate the \"memorandum\" -- a bailout deal that has imposed harsh austerity conditions. In return for the cut, Greece has been given an international credit lifeline -- first for 110 billion euros in May 2010 and then for 130 billion euros earlier this year plus a 107-billion-euro private debt write-off. \"What is at stake in this election is clear: euro or drachma, coalition government or no government,\" Samaras said in one of his campaign speeches. He has said he could lead a coalition of other centre-right parties and the Socialist Pasok party, which would broadly support the bailout deal. Syriza leader Alexis Tsipras has called for the deal to be torn up although he has moderated his message in recent days and is now also calling for renegotiation. Samaras \"has guaranteed (German Chancellor Angela) Merkel\'s Europe of the past. We guarantee the Europe of the future,\" he told thousands of supporters at his final campaign rally as they chanted: \"The hour of the left has arrived!\" Syriza has managed to bring together \"all those who have been hit by austerity,\" said Meri Primi, a 45-year-old teacher in Athens. \"We want the euro but we also want to live,\" said Primi, whose salary has been cut 400 euros to 1,100 euros ($1,400) a month over the past two years. Tsipras has given himself 10 days after the vote to renegotiate the bailout in time for the European summit in Brussels on June 28 and 29. European leaders and in particular Merkel have said there is no room for renegotiation but officials privately say there is wiggle room and a willingness to meet Greece\'s needs to relaunch its economy after five years of recession. \"The terms of the compromise, which is to be signed between now and September, would add another two years on the target for fiscal consolidation,\" a former adviser to Papademos told AFP on condition of anonymity. Political analyst George Sefertzis said: \"Either we find a solution for a new austerity plan that is more realistic and functional or we will find ourselves at an impasse... Without growth, we can\'t reduce deficits or debt.\" Greece\'s creditors are taking no chances and have suspended the latest 2.6-billion-euro tranche of bailout until after the election amid concern in some quarters of prolonged political deadlock in Athens. Scenarios on how Greece could exit the euro -- a notion that is rejected by 80 percent of Greeks -- have multiplied in recent weeks. The latest one by Deutsche Bank said the critical period when Greece runs out of money could come \"at the end of June or beginning of July.\" Under that scenario, there would be an extraordinary session of parliament that would impose capital controls, give new powers to the Bank of Greece and authorise the printing of a new devalued currency.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro exit threat hangs over greek election Arab Today, arab today euro exit threat hangs over greek election

 



Arab Today, arab today
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced

GMT 05:29 2017 Tuesday ,21 February

Sovereign funds pulled $38bn from markets in 2016
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday