(Image source: Wikimedia Commons)

 

BY KEVIN DUBOUIS

ANCHOR LAUREN GORES

 

Embattled Greek government officials have announced elections for May 6.

 

Interim Prime Minister Lucas Papademos was sworn in last November to implement Greece’s second rescue package. But the country’s political situation has since worsened. CNN reports...

 

“The announcement comes amid collapsing support for the two parties -- New Democracy and PASOK -- which have dominated Greek politics since the fall of the military junta in 1974. Political support has splintered, and smaller parties have gained in response to the financial crisis which has wracked the country for almost two years.”

 

Euronews says Papademos has also lost the people’s support by agreeing to strict austerity measures.  For months now, Greeks have been demonstrating in the street of Athens.

 

“Greece’s economic situation has caused the country’s worst financial crisis since World War II, rapidly rising unemployment, and even threatened the stability of the euro.”

 

Bloomberg reports Papademos’ televised speech after he asked for parliament to be dissolved and elections organized.

 

“I am certain that as a society we will invest in creativity, and not the opposite ... That means choosing the path that will ensure our place in the European Union and the euro.”

 

But many pundits wonder, what the elections will bring?  They may result in no clear winner or majority.

 

The BBC’s Gavin Hewitt explains a coalition made up with small parties could create difficulties and might actually worsen the political turmoil.

 

“The smaller anti-austerity parties … are likely to benefit. But a splintered vote will make it hard for any party to form an effective government. And political instability in Europe's most indebted country could spell fresh trouble for the whole eurozone. … There are fears ... the measures could be in peril if anti-austerity parties gain a majority in the Greek parliament as a result of these elections.

 

France 24 reports, a possible coalition between two main parties could avoid that scenario.

 

“The Greek paper Kathimerini says the only way to preserve the bailout, which that paper supports, is that the two main parties who support it, the socialist and conservative New Democracy agree to go into a coalition together.”

 

The New York Times quotes political analyst Takis Michas, who says Greeks might use the election to stage one last protest against the current government, before electing their representatives.

 

“Some expect that the elections will produce a hung Parliament and require a second round of voting. ‘People will express their anger and grievances in the first vote, then in the second they will be more realistic”

 

Greek PM Announces Crucial Election for May 6

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Apr 13, 2012

Greek PM Announces Crucial Election for May 6

(Image source: Wikimedia Commons)

 

BY KEVIN DUBOUIS

ANCHOR LAUREN GORES

 

Embattled Greek government officials have announced elections for May 6.

 

Interim Prime Minister Lucas Papademos was sworn in last November to implement Greece’s second rescue package. But the country’s political situation has since worsened. CNN reports...

 

“The announcement comes amid collapsing support for the two parties -- New Democracy and PASOK -- which have dominated Greek politics since the fall of the military junta in 1974. Political support has splintered, and smaller parties have gained in response to the financial crisis which has wracked the country for almost two years.”

 

Euronews says Papademos has also lost the people’s support by agreeing to strict austerity measures.  For months now, Greeks have been demonstrating in the street of Athens.

 

“Greece’s economic situation has caused the country’s worst financial crisis since World War II, rapidly rising unemployment, and even threatened the stability of the euro.”

 

Bloomberg reports Papademos’ televised speech after he asked for parliament to be dissolved and elections organized.

 

“I am certain that as a society we will invest in creativity, and not the opposite ... That means choosing the path that will ensure our place in the European Union and the euro.”

 

But many pundits wonder, what the elections will bring?  They may result in no clear winner or majority.

 

The BBC’s Gavin Hewitt explains a coalition made up with small parties could create difficulties and might actually worsen the political turmoil.

 

“The smaller anti-austerity parties … are likely to benefit. But a splintered vote will make it hard for any party to form an effective government. And political instability in Europe's most indebted country could spell fresh trouble for the whole eurozone. … There are fears ... the measures could be in peril if anti-austerity parties gain a majority in the Greek parliament as a result of these elections.

 

France 24 reports, a possible coalition between two main parties could avoid that scenario.

 

“The Greek paper Kathimerini says the only way to preserve the bailout, which that paper supports, is that the two main parties who support it, the socialist and conservative New Democracy agree to go into a coalition together.”

 

The New York Times quotes political analyst Takis Michas, who says Greeks might use the election to stage one last protest against the current government, before electing their representatives.

 

“Some expect that the elections will produce a hung Parliament and require a second round of voting. ‘People will express their anger and grievances in the first vote, then in the second they will be more realistic”

 

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