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.FULL STORY