24 December 2014

Is Grexit Closer?

The Greek Parliament failed for a second time to elect a new President, after pro-EU Stavros Dimas received 168 votes, 12 shy of the 180 needed to secure the job. A third and final vote is scheduled for December 29. Failure to appoint a president will trigger snap elections and consolidate the left wing Syriza party into power. Syriza leader Alexis Tsipras vowed to “cancel” Greece’s austerity program, and EU officials fear he will push Greece out of the Eurozone.

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