Sunday, May. 19, 2013 |
Greece hits political stalemate, euro exit fears grow
Page last updated at 06:48 GMT, Monday, May 14, 2012 - 11:48 EST
Reuters:
Head of Greece's Left Coalition party Alexis Tsipras (C) leaves the presidential palace after a meeting in Athens May 13, 2012.
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Greece's president met little enthusiasm from political leaders summoned to a final round of talks on Monday to avert a new election, reinforcing fears the country was firmly on the path to bankruptcy and an exit from the euro zone.
European shares slid and Spanish and Italian bond yields rose as the political deadlock threatened to reignite the euro zone debt crisis. Greek banking stocks tumbled 7 percent.
Greece's political landscape has been in disarray since an inconclusive election on May 6 left parliament divided between supporters and opponents of a 130 billion euro ($168.3 billion) EU/IMF bailout, with neither side able to form a government.
After Sunday's effort at cajoling party leaders into a coalition proved fruitless, President Karolos Papoulias summoned four party leaders for a fresh round of talks on Monday evening.
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DNA reveals origin of Greece's ancient Minoan culture
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Olympiakos completes double beating Asteras in Cup final
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EU commissioner criticizes Greece for refusing Syrians asylum
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Olympiakos completes double beating Asteras in Cup final
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Olympiakos completes double beating Asteras in Cup final
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Olympiakos completes double beating Asteras in Cup final
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Olympiakos completes double beating Asteras in Cup final
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Athens Mayor sues ultra-right Golden Dawn MP for assault
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Olympiakos completes double beating Asteras in Cup final
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Athens Mayor sues ultra-right Golden Dawn MP for assault