Monday, June 18, 2012

Greece's pro-austerity party will start talks to form a coalition government. The party narrowly won Sunday's election but fell short of winning a majority.Counting of the votes nearly completed, the New Democracy party has won 29.6 percent.

The Coalition of the Radical Left, a staunch opponent of austerity measures, came in a close second with 26.8 percent.
New Democracy is expected to take 129 seats out of the 300. Its leader Antonis Samaras plans to start coalition talks on Monday.Coalition talks to begin in between New Democracy and PASOK party.

Their former coalition partner, Socialist PASOK party, is expected to gain 33 seats. Both forge an alliance, they will have a majority of 162 seats.But PASOK leader Evangelos Venizelos is calling for other parties to join a coalition.
Eurogroup head Jean-Paul Juncker, Prime Minister of Luxembourg, said the Greek election results should allow swift formation of a government that will put the country back on a recovery track.On Sunday, he said Greece should continue its austerity measures to overcome the current economic and social challenges within the framework of the eurozone.United States has also called on Greece to quickly form a new government that can address the economic problems facing the country.

  White House statement said that it was in everyone's interests for Greece to remain in the euro area while respecting its commitment to reform.

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