With the failure of the major political parties to reach agreement on a coalition government, it seems that Greece will soon be headed for new elections.
They are likely to yield no better results than the previous one and will make it even more certain that Greece will soon exit the Euro. Venizelos an Samaris both seek to remain within the Eurozone, while adjusting their economic programs – which will be rebuffed by Germany.
The new powerbroker Alexis Tsipras, leader of far-left party Syriza, has decided however, not to attend coalition talks on Monday, reports say, plunging Greece into further political disarray and cementing the likelihood of new elections.
He left the meeting, saying, “As long as they insist on the bailout, to a policy that the people have rejected, they cannot ensure social stability“.
The markets will be watching Eurozone developments all this week.
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