Athens: Greece is going to hold new elections on June 17 after final talks to form a coalition ended in stalemate. Fears abound over the country’s stay in European Union’s single currency.
The date for fresh elections was announced after party leaders meeting with Greek President Karolos Papoulias, BBC reported.
Until the fresh elections, a caretaker government has been formed which will be headed by the Council of state President Panagiotis Pikramenos.
Greek state television reported that the interim prime minister and his cabinet would take their oaths this Thursday.
Since the May 6 elections the austerity measures required by an international bailout agreement had been the bone of contention. Syriza, the leftist party that came second in the previous elections is most likely to get majority in the June 17 elections.
“If Greece exits the euro it won’t be alone. Others will exit,” CNN quoted Paul Donovan, a global economist with UBS bank, as saying.
“There would be bank runs across multiple countries. Citigroup, for example, may not be exposed to Greece, but it may be exposed to Portugal, Spain, France. … It may be exposed to a company that’s exposed to France, or exposed to exports to EU.”
“We’re not planning for a Greek exit, nobody is planning for a Greek exit,” Richard Corbett told BBC Radio 4’s Today programme.
“That would not help Greece, it would not help the rest of the European Union and technically by the way, it’s an extraordinarily difficult thing to do. The idea of planning a Greek exit would risk being a self-fulfilling prophecy.”
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