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Greece election: Coalition talks set to resume | Greece election: Coalition talks set to resume |
(about 9 hours later) | |
Talks between three parties on forming a new coalition government in Greece are set to resume on Wednesday, amid intense international pressure. | Talks between three parties on forming a new coalition government in Greece are set to resume on Wednesday, amid intense international pressure. |
New Democracy, the conservative winner of Sunday's election, is expected to lead the new government. | New Democracy, the conservative winner of Sunday's election, is expected to lead the new government. |
Pasok leader Evangelos Venizelos said a government could be formed by midday (09:00 GMT) on Wednesday. | Pasok leader Evangelos Venizelos said a government could be formed by midday (09:00 GMT) on Wednesday. |
New Democracy leader Antonis Samaras's three-day mandate to form a government expires on Wednesday. | New Democracy leader Antonis Samaras's three-day mandate to form a government expires on Wednesday. |
It is unclear whether Pasok, which came third in the vote, will join the government, or merely support it. | It is unclear whether Pasok, which came third in the vote, will join the government, or merely support it. |
The third party is Democratic Left. Between them, the three parties would have a majority of 29 seats in parliament. | The third party is Democratic Left. Between them, the three parties would have a majority of 29 seats in parliament. |
They all favour keeping Greece in the euro while wanting to renegotiate terms of its EU-IMF bailouts, although they differ on the extent. | They all favour keeping Greece in the euro while wanting to renegotiate terms of its EU-IMF bailouts, although they differ on the extent. |
However, European leaders have indicated that there is limited room for manoeuvre and are expecting details on how the new government intends to make another 11.7bn euros (£9.4bn; $14.8bn) of cuts by 2014. | However, European leaders have indicated that there is limited room for manoeuvre and are expecting details on how the new government intends to make another 11.7bn euros (£9.4bn; $14.8bn) of cuts by 2014. |
New Democracy won 129 seats in Greece's 300-seat parliament on Sunday, followed by the radical anti-bailout party, Syriza, with 71, Pasok with 33 and the Democratic Left with 17. | New Democracy won 129 seats in Greece's 300-seat parliament on Sunday, followed by the radical anti-bailout party, Syriza, with 71, Pasok with 33 and the Democratic Left with 17. |
Pressure | Pressure |
World powers have urged Greece to move swiftly to form a government. | World powers have urged Greece to move swiftly to form a government. |
Speaking after talks between the three parties in parliament on Tuesday, Mr Venizelos said a government "must be formed as soon as possible". | Speaking after talks between the three parties in parliament on Tuesday, Mr Venizelos said a government "must be formed as soon as possible". |
He said his party would support the government "wholeheartedly", but had not yet decided what form its participation would take. | He said his party would support the government "wholeheartedly", but had not yet decided what form its participation would take. |
If Mr Samaras fails to form a government by the deadline on Wednesday, Syriza would be given a chance, followed by Pasok. | If Mr Samaras fails to form a government by the deadline on Wednesday, Syriza would be given a chance, followed by Pasok. |
But Syriza leader Alexis Tsipras has said he will not even attempt to do so. He has also refused to join a government led by New Democracy. | But Syriza leader Alexis Tsipras has said he will not even attempt to do so. He has also refused to join a government led by New Democracy. |
Two international bailouts have been awarded to Greece, an initial package worth 110bn euros (£89bn; $138bn) in 2010, then a follow-up this year worth 130bn euros, but they come with tough austerity conditions attached. | |
Greece has also had 107bn euros (£86bn; $135bn) of debt, held by private investors, written off. | Greece has also had 107bn euros (£86bn; $135bn) of debt, held by private investors, written off. |