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ATHENS — Greece is headed for another month of politicalparalysis ahead of new elections in mid-June, after partyleaders on Tuesday failed to reach an agreement to build acoalition government. The protracted deadlock and the prospect of an anti-austerity partywinning the new vote hammered Europe"s markets on fears that the debt-crippledcountry could be forced out of the European single currency,triggering shockwaves throughout the 17-country eurozone. "The country is unfortunately heading again toelections," Socialist party leader and former finance ministerEvangelos Venizelos said after the talks under PresidentKarolos Papoulias collapsed. "It is heading back to electionsin a few days under very bad circumstances, because certain people coldly put theirshort-term party interests above the national interest." Main European markets lost earlier gains, with the FTSE 100 indexof leading shares shedding 0.6 per cent, Germany"s DAX down 1per cent and the CAC-40 in France 0.7 per cent. Greek shares wereclobbered further after days of heavy losses, with the Athens stockmarket initially diving 4.86 per cent, to close 3.6 per cent down. The euro also fell, trading 0.3 per cent lower at $1.2794. Tuesday"s meeting of five party leaders under Papoulias was alast-ditch effort to overcome the deadlock after a first electionin May left no party with enough votes for a majority inparliament. Repeated attempts over nine days to cobbletogether a coalition government proved fruitless, as anti-austerityparties riding on a tide of popular discontent at protractedcutbacks failed to co-operate with mainstream pro-Europeanpoliticians. The political uncertainty has worried Greece"s internationalcreditors, who have extended the country billions of euros in rescue loans over the past twoyears. The election campaign was dominated by the debate overGreek"s dismal financial state and the strict austeritymeasures taken in return for the bailout. Third-placed PASOK"s Venizelos said the head of thesmall Democratic Left party, Fotis Kouvelis, had proposed forming atwo-year government, but insisted that it include the radicalfar-left Syriza party. Syriza came a surprise second in the May 6 vote, campaigning strongly on an anti-bailoutplatform and calling for austerity measures to be cancelled.The party"s leader, Alexis Tsipras, has refused to join anygovernment that will not repeal the measures. "We tried tocreate a government that would satisfy the minimumdemands made by the electorate," Tsipras said afterTuesday"s talks. "Our main demand was to cancelthe new harsh measures cutting pensions and salaries and to restorelabour rights." The conservative New Democracy party won the election, butonly received 18.9 per cent of the vote as angry voters scatteredto smaller parties. Papoulias will now convene a new meeting of party leaders onWednesday to appoint a caretaker government to manage thecountry until the election. Opinion polls show Syriza is likeliest to come first in the newvote, but again without enough seats in parliament to govern alone. However, as first party, Syriza would enjoy an automatic50-seat bonus and could hope to form a coalition with the help ofother left and right-wing antiausterity parties. "These upcoming elections will be a struggle between theleft-leaning forces of nihilism in league with opportunisticpopulists," New Democracy leader Antonis Samaras said."On the other side will be a European front, strong anddetermined." Many Greeks seem resigned to the need for new polls, even thoughthat will hold back the country"s commitments to detail newharsh cutbacks next month while implementing pledged reforms. "The solution is provided by democracy and democraticprocedures," said Athens resident Yannis Ekaterinaris. Another Athenian, Kostas Zaris, dismissed the idea floated byPapoulias for party leaders to agree on a cabinet of unelectedtechnocrats. "With a technocrat nothing can ever change," he said."Technocrats only care about their interests and theycannot represent 50 per cent or so of the Greek people.". The e-commerce company in China offers quality products such as Fishing Tackle Boxes Manufacturer , China Fishing Tackle Accessories, and more. For more , please visit Fishing Pole Rollers today!
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