
Greece heads to early elections after parliament fails to elect president
Greece is heading to early elections after the country's lawmakers failed to elect a new president in a third and final round of voting Monday. In two previous ballots, former European commissioner Stavros Dimas, the coalition government's candidate for the post, fell short of the 180 votes needed to win. The government now has 10 days to dissolve parliament and declare early elections. Some fear the move could endanger the debt-ridden country's international bailout. Ref. USAToday
Far-left Syriza party forms government in Greece
Syriza party leader Alexis Tsipras has entered into a power-sharing agreement with the small right-wing, anti-bailout Independent Greeks party. Syriza needed to form a coalition government because it won 149 out of 300 seats in the Greek parliament in Sunday's election. It needed 151 to form a government on its own. Greece's new government is expected to aggressively push for new terms for its $270 billion bailout with international lenders. Ref. USAToday
Power sharing governments never work at some point there will be an argument over an issue and they will break apart. Maybe Greece can prove me wrong but I seriously doubt it.
International Level: New Activist / Political Participation: 17 1.7%
Greek finance minister resigns in wake of referendum
Yanis Varoufakis said he is stepping down because he was "Made aware of a certain preference by some Eurogroup participants, and assorted 'partners', for (His) 'absence." He made the comments on his blog on Monday. Greek voters on Sunday resoundingly rejected the bailout terms demanded by Athens' creditors in a referendum, increasing the likelihood that the debt-wracked country will exit the euro. Ref. USAToday
Greece names Euclid Tsakalotos as new finance minister
The Greek government has named Euclid Tsakalotos as the country's new finance minister, a day ahead of an emergency meeting with creditors in Brussels, the Associated Press and the Financial Times reported Monday. The 55-year-old economist was Prime Minister Alexis Tsipras' lead bailout negotiator in talks that halted last month before Tsipras called a bailout referendum. Greeks overwhelmingly voted against austerity measures required by creditors for bailout cash. Tsakalotos replaces fellow-economist Yanis Varoufakis who quit earlier Monday, saying his departure would help bailout negotiations reach an agreement. Ref. USAToday
Greece: Tsipras Says Referendum Needed to Fix Split in Party :
Greek Prime Minister Alexis Tsipras Thursday called for an emergency congress next month for the Syriza party, in order to overcome major divisions. He also added that if members wanted a faster solution, a snap party referendum would also be acceptable. Ref. Source 2m