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Europe
Greece invites 5 parties to talks on new govt
2012-05-16
[Emirates 24/7] Seeking to end a nine-day deadlock, Greece's president met on Tuesday with five political party leaders in an effort to form a new government after inconclusive elections plunged the crisis-hit country into further disarray.

The meeting will examine a new proposal brought by President Karolos Papoulias for a government of technocrats or respected personalities, after repeated negotiations for a coalition government collapsed. If no deal is reached, Greece will have to call new elections.

The protracted political certainty has left Greeks frustrated and worried about whether a government of non-elected individuals would work.

``The solution is provided by democracy and democratic procedures. This means that there should be another election and they should stop intimidating the people and engaging in tactics of terror,'' said Athens resident Yannis Ekaterinaris.

No party won an outright majority in Greece's May 6 election, leading to an impasse that has shaken financial markets and led to questions about Greece's ability to stay in the eurozone. Power-sharing efforts have failed so far after the left-wing Syriza party, which came second in the vote, insisted that the draconian terms of Greece's financial rescue agreements be scrapped or rewritten.
Posted by:Fred

#5  Apparently all the money is flooding into US bonds and treasuries.
Posted by: phil_b   2012-05-16 21:57  

#4  Italy's next.
Then spain.
Then portugal.
Posted by: Bright Pebbles   2012-05-16 11:49  

#3   government of technocrats

Isn't that what the EU imposed on Italy a short time ago?

Strikes me as a replay of the old technique of inserting puppet governments in conquered territory.
Posted by: AlanC   2012-05-16 10:33  

#2  Meanwhile, the private citizen run on Greek banks continues. Those Euros will be worth significantly more than whatever is to follow at the local level.
Posted by: Besoeker   2012-05-16 09:14  

#1  Nice try but apparently no Gyros at all for everybody ...

* TOPIX, WORLD NEWS > GREECE: COALITION TALKS COLLAPSE.

Twas a Quickie it was.

* SAME > [Greek Commie Party] KKE: NO PARTICIPATION/ROLE IN COALITION GOVT. TALKS.

* IRAN MILITARY FORUM > GREECE VIRTUALLY WIDOUT CASH ONE DAY BEFORE CRITICAL BOND MATURES.

* SAME > GREEK COMMUNIST PARTY CALLS FOR ANNULMENT OF GREEK LOAN DEAL; YET ANOTHER UNFORTUNATE ATTEMPT TO BROKER A [Multi-Party Govt = Coalition] DEAL.

Nulling or voiding Govt. Debts, espec to Foreign Nations, is one of the first things Commies histor love to do first.

* SAME > JP MORGAN ESTIMATES IMMEDIATE LOSSES FROM GREECE EURO EXIT COULD REACH $400.0BILYUHN.
Posted by: JosephMendiola   2012-05-16 01:43  

00:00