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| Greece to hold key presidential vote two months early | Greece to hold key presidential vote two months early |
| (35 minutes later) | |
| Greece has brought forward to this month the date of its next presidential election, which is conducted by the country's parliament. | Greece has brought forward to this month the date of its next presidential election, which is conducted by the country's parliament. |
| The announcement came after eurozone ministers approved a Greek request for a two-month extension to its bailout programme, due to end later this month. | The announcement came after eurozone ministers approved a Greek request for a two-month extension to its bailout programme, due to end later this month. |
| The presidential vote on 17 December will be a vital test for embattled Prime Minister Antonis Samaras. | The presidential vote on 17 December will be a vital test for embattled Prime Minister Antonis Samaras. |
| His decision prompted the stock market in Athens to plummet 9.5% on Tuesday. | His decision prompted the stock market in Athens to plummet 9.5% on Tuesday. |
| Analysts said the markets had been spooked by the risk of snap elections, which will take place if the conservative-led government's nomination is not approved by parliament. | Analysts said the markets had been spooked by the risk of snap elections, which will take place if the conservative-led government's nomination is not approved by parliament. |
| President Karolos Papoulias's five-year term ends in March, and a vote had been expected in February. | President Karolos Papoulias's five-year term ends in March, and a vote had been expected in February. |
| Mr Samaras's conservative-led coalition needs the support of other parties if its candidate is to obtain the backing of MPs. | Mr Samaras's conservative-led coalition needs the support of other parties if its candidate is to obtain the backing of MPs. |
| But the left-wing anti-bailout Syriza party is leading in the opinion polls and the government faces widespread public discontent after a six-year recession. | But the left-wing anti-bailout Syriza party is leading in the opinion polls and the government faces widespread public discontent after a six-year recession. |
| Risky vote | Risky vote |
| Hours after saying he would bring forward the presidential vote, Mr Samaras gave a televised address announcing that his coalition was nominating former European Commissioner Stavros Dimas as its candidate. | Hours after saying he would bring forward the presidential vote, Mr Samaras gave a televised address announcing that his coalition was nominating former European Commissioner Stavros Dimas as its candidate. |
| "When the current parliament elects a president at the end of the month the clouds will be gone and the country will be ready to officially enter the post-bailout era," the prime minister said, linking the vote in parliament to the end of the unpopular programme of support from the EU and IMF. | "When the current parliament elects a president at the end of the month the clouds will be gone and the country will be ready to officially enter the post-bailout era," the prime minister said, linking the vote in parliament to the end of the unpopular programme of support from the EU and IMF. |
| Since 2010 Greece has received almost €240bn (£190bn; $295bn) in rescue funds, which are due to be replaced next year by a new eurozone credit line that can be accessed in an emergency. | Since 2010 Greece has received almost €240bn (£190bn; $295bn) in rescue funds, which are due to be replaced next year by a new eurozone credit line that can be accessed in an emergency. |
| Syriza's leader Alexis Tsipras accused the government of rushing it through in a "desperate attempt" to hide new austerity measures. He has pledged to end austerity cuts and any co-operation with either EU or IMF lenders. | Syriza's leader Alexis Tsipras accused the government of rushing it through in a "desperate attempt" to hide new austerity measures. He has pledged to end austerity cuts and any co-operation with either EU or IMF lenders. |
| Mr Samaras's government narrowly pushed through its 2015 budget in the early hours of Monday, securing 155 votes in the 300-seat parliament. | Mr Samaras's government narrowly pushed through its 2015 budget in the early hours of Monday, securing 155 votes in the 300-seat parliament. |
| But if it is to convince MPs to back its presidential candidate it will need far greater support from the chamber. | But if it is to convince MPs to back its presidential candidate it will need far greater support from the chamber. |
| Two hundred MPs are needed to back a candidate in the first or second vote, and 180 for the third vote. The second and third rounds of the vote are scheduled for 23 and 29 December. | |
| Mr Samaras will have to secure the backing of 25 opposition lawmakers to reach 180 votes. | Mr Samaras will have to secure the backing of 25 opposition lawmakers to reach 180 votes. |
| Monday's move to extend the bailout and advance the date of the presidential vote came a day after violent protests in Athens, with more than 300 demonstrators arrested. | Monday's move to extend the bailout and advance the date of the presidential vote came a day after violent protests in Athens, with more than 300 demonstrators arrested. |
| The demonstration was held to mark six years since police shot dead an unarmed teenager during protests fuelled by anger over the country's economic crisis. | The demonstration was held to mark six years since police shot dead an unarmed teenager during protests fuelled by anger over the country's economic crisis. |
| "The coming period is essential to find an agreement [with the eurozone] to settle issues like the debt, and Greece has to have the full capacity to mobilise its forces in a climate of national unity and political stability," the government said in its statement. | "The coming period is essential to find an agreement [with the eurozone] to settle issues like the debt, and Greece has to have the full capacity to mobilise its forces in a climate of national unity and political stability," the government said in its statement. |
| Some investors are worried about a return to the days of financial crisis as the presidential vote looms. | Some investors are worried about a return to the days of financial crisis as the presidential vote looms. |