Tuesday, May 15, 2012

Greek Leftists rule out technocratic government as leaders meet again

Greece's president will ask party leaders to stand aside and let a government of technocrats steer the nation away from bankruptcy, but Leftists have already rejected the proposal and look set to force a new election they are forecast to win.

Party leaders, deadlocked since a parliamentary vote nine days ago, will convene at the presidential palace at 2 pm (1100 GMT) but said they had little hope President Karolos Papoulias's offer would resolve a political crisis that has fuelled speculation Greece's days in the euro zone are numbered.

The multi-party political landscape has been in disarray since an inconclusive election on May 6 left parliament divided between supporters and opponents of a 130 billion-euroEU-IMF bailout, with neither side able to form a coalition that would have a stable majority in the legislature.
If supporters and opponents of the bailout cannot agree a government, the head of state must call a new election in June. Read More