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Sunday, May 13, 2012

Hopes dashed as Greece failed to form unity government

Despite President Carolos Papoulias’ repeated attempts to save Greece from further chaos, the front-line party heads have failed to form coalition government. This has happened as a result of the failure of the political parties to reach a consensus on the controversial Greece bail-out deal.

The meeting held at the Presidential mansion on Sunday was attended by three of the most prominent Greek leaders. They were the conservative leader Antonis Samaras, the extreme leftist Syriza chief Alexis Tsipras and the socialist Pasok leader Evangelos Venizelos.

The talk which was aimed at ironing out differences between major political parties on fiscal pact, soon reached an impasse as leaders started blaming each other on the highly controversial bailout agreement and stiff spending cuts. While, the 37-year old Alexis Tsipras riding high on ‘anti-austerity wave’ clearly and completely rejected any negotiations with pro-bailout leaders, Conservative leader Antonis Samaras accused Tsipras for the current standoff. It has also been reported that Tsipras has given the assurance of pulling out of the bail-out deal without giving up Euro.

As per the latest news, the President of Greece is expected to hold another round of fresh talks with the political parties on Monday. Though only a slim chance remains, but if Greece succeeds to form a new government before the Thursday deadline, it might be able to avoid a repeat election and, perhaps, stay in the euro zone.

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