May 15th, 2012
09:17 AM ET

Greek talks end with no deal on government

Greek politicians ended a meeting with President Karolos Papoulias without any sign of agreement Tuesday, increasing the chances the country would have to hold new elections as its debt crisis threatens the stability of the European Union's single currency.

Greece has been in a political stalemate since elections nine days ago left no party with a majority. The leaders of three different parties have tried to cobble together a workable coalition, but all have failed.

The politicians have until Thursday to come up with a government or call new elections.

The political instability has raised the possibility that Greece will fail to make debt payments as early as next month, potentially forcing the country out of the euro, the currency used by 17 European Union countries.

The European Central Bank and International Monetary Fund have been pumping money into Greece to keep that from happening, but they have demanded that the Greek government slash spending to get the funds.

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Filed under: European Union • Greece
soundoff (6 Responses)
  1. Phil Spectre

    Talks about gyros.

    May 15, 2012 at 9:28 am | Report abuse |
  2. hamsta

    its hard to get rid of the socialist parasites once you start feeding them.

    May 15, 2012 at 9:54 am | Report abuse |
  3. saywhat

    Sure and we are seeing capitalism allowed to run amok too.

    May 15, 2012 at 11:03 am | Report abuse |
  4. banasy©

    Agreed. Just look at the JP/Chase case.

    May 15, 2012 at 11:52 am | Report abuse |
  5. hamsta

    until they get rid of the socialist parasites they will never prosper.

    May 15, 2012 at 12:45 pm | Report abuse |
  6. Ann Robers

    Greeks would be well advised to pull at least 90 percent of their accounts into cash (a mix of Euro and Dollars) and pay cash for their items, storing the remainder in a safe deposit box or good safe (burglars rarely search your attic behind a bunch of dusty furniture or under a pile of old clothes). I would not be surprised if on any given weekend (maybe this one!) the Greek banks mark the Euros they have with rubber stamps to temporarily mark them as "Greek Euros" in case they switch back to Drachma after the election. Get your clean, unmarked Euros and Dollars NOW.

    May 15, 2012 at 8:48 pm | Report abuse |