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Creece:Fresh Greek coalition takes on shape

Monday, June 18, 2012

On Monday, Antonis Samaras, the leader of Greece’s centre-right New Democracy (ND), received a mandate to form a government from President Karolos Papouilias.
His challenge is now to try to rebuild credibility with Greece’s European partners and revive the country’s failing bailout program after an election largely seen as a referendum on Greece’s euro zone membership.

Mr. Samara is expected to build a workable coalition with the nominally pro-bailout Panhellenic Socialist Movement (Pasok), garnering about 162 seats in the 300-member parliament.

Still, his task is made all the harder by the Greek political leaders’ lack of experience in seeking compromise. There are also few choices of coalition partner available to Mr. Samaras. Under Greece’s electoral law, each of the top three party leaders has a three-day mandate to form a coalition, but Mr Samaras has made clear he would like to accelerate the process and have a government in place this week.

Financial Times


Jun 18, 2012


Eurozone welcomes Greek election results


Eurogroup head Jean-Paul Juncker, Prime Minister of Luxembourg, said the Greek election results should allow swift formation of a government that will put the country back on a recovery track.

In a statement issued on Sunday, he said Greece should continue its austerity measures to overcome the current economic and social challenges within the framework of the eurozone.

The United States has also called on Greece to quickly form a new government that can address the economic problems facing the country.

The White House statement said that it was in everyone’s interests for Greece to remain in the euro area while respecting its commitment to reform.

Jun. 18, 2012