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May 13, 2012


Greece Headed Towards New Elections as Talks Fail

Greece's political party leaders "failed to bridge differences in a last-ditch effort to form a coalition government Sunday, and new elections appeared inevitable even as talks to end the country's political impasse continued, renewing fears of an impending Greek exit from the euro zone," the Wall Street Journal reports.

Economist: "Greece is now caught in a vicious circle between political uncertainty and economic contraction. The renewed doubts over its commitment to meeting the conditions for its bail-out will impair investment and frighten households, exacerbating the economic misery that voters are rejecting, and perhaps making it less likely that they will elect a government that can manage to keep Greece in the euro area."












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