Arab Today, arab today greek socialists fail in lastditch bid to build government
Last Updated : GMT 16:14:11
Arab Today, arab today
Arab Today, arab today

Greek socialists fail in last-ditch bid to build government

Arab Today, arab today

Arab Today, arab today Greek socialists fail in last-ditch bid to build government

Athens - AFP

Greece\'s socialist leader admitted Friday he had failed in a last-ditch bid to form a government, taking the nation a step closer to repeat elections as it faces increased EU pressure over its finances. Pasok chief Evangelos Venizelos\'s announcement came after the key radical leftist party Syriza refused to join a pro-austerity coalition with the socialists and conservatives, paving the way for weekend talks hosted by the president to try to stitch together an emergency unity government. The latest twist in the tortuous political drama came as EU paymaster Germany threatened to cut off the country\'s loan lifeline and hinted that the crisis-ridden eurozone could get along without Greece. Venizelos was the third party leader who tried and failed to cobble together a government after inconclusive elections Sunday that saw a backlash against painful austerity measures that have triggered sometimes violent protests. \"I am going to inform the president of the republic tomorrow (Saturday) and I hope that during the meeting with Carolos Papoulias, each party will assume its responsibilities,\" Venizelos told reporters in Athens. If the parties cannot agree a compromise by next Thursday, new elections will have to be called. Venizelos had been hoping to win the support of Syriza, a party deeply opposed to the terms of the 240 billion euro (311 billion dollar) EU-IMF bailout and which surged to second place in Sunday\'s vote. \"It is not Syriza which is rejecting (joining a coalition with the socialists and conservatives) but it is the verdict of the people of Greece,\" said party chief Alexis Tsipras. Earlier, another possible ally, the small Democratic Left party, said it would not join a government made up of only Pasok and the conservative New Democracy party that did not include Syriza. Earlier this week both Tsipras and New Democracy leader Antonis Samaras failed in their own attempts to assemble a coalition government. German leaders warned Friday that Athens could expect no more money without reforms and also suggested that the eurozone would cope if the cash-strapped country left the 17-member currency union. Greece has already committed to finding in June another 11.5 billion euros ($15 billion) in savings over the next two years. It also needs to redeem 436 million euros in maturing debt on May 15. The political deadlock saw the Athens stock exchange plunge 4.5 percent on Friday after closing up 4.19 percent on Thursday. With Greek reforms already on hold because of the election campaign, Brussels on Friday revised downwards its economic forecasts for the country at the epicentre of the eurozone debt crisis. The European Commission said the economy is expected to contract by 4.7 percent this year -- compared to a Greek budget estimate of 2.8 percent -- and see zero growth next year. It also cast doubt on Greek pledges to reduce the public deficit to 7.0 percent of gross domestic product this year, favouring a 7.3-percent estimate instead. Sunday\'s election punished the mainstream parties for their insistence on crippling austerity measures introduced to meet the terms of the bailout and alarmed Greece\'s eurozone partners amid fears vital reforms may be at risk. Even the pro-bailout parties have publicly called for a revision of Greece\'s EU-IMF loan agreement. Samaras on Friday repeated his assertion that the deal must be \"modified\" to boost growth after five years of recession. But the EU has warned that Greece must honour the bailout conditions of budget cuts and deep reforms. Earlier in the week, the eurozone announced it was blocking 1.0 billion euros ($1.3 billion) out of 5.2 billion euros in bailout loans until Monday. \"We want Greece to remain in the eurozone,\" German Finance Minister Wolfgang Schaeuble told the regional Theinische Post in an interview published Friday. \"But it also has to want this and to fulfill its obligations. We can\'t force anyone. Europe won\'t sink that easily.\" German Foreign Minister Guido Westerwelle warned Athens could expect no more money without reforms. \"We want to help Greece and we will help Greece. But Greece has to want to be helped. If they deviate from the agreed reform path, then the payment of further tranches of aid is not possible.\" Fitch credit rating agency warned that the emergence of a Greek government \"unwilling or unable to abide by the terms of the current EU-IMF programme would increase the risk of Greece leaving the eurozone\". \"If they are required, the re-run elections will therefore be a critical event for both Greece and for the eurozone,\" it said in a note. An opinion poll published Friday showed that Syriza could even emerge as the victor if new elections are held in June.

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 greek socialists fail in lastditch bid to build government Arab Today, arab today greek socialists fail in lastditch bid to build government

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
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 Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
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 Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
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