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Greek Premier Says Presidential Elections to Be Held This Month Greek Premier Moves Forward With Call to Speed Up Presidential Elections
(35 minutes later)
ATHENS — Amid mounting political uncertainty, Prime Minister Antonis Samaras of Greece said on Tuesday that critical presidential elections would be held this month, a gamble that could lead to early general elections and bring to power a leftist party that opposes the terms of Greece’s international bailouts. ATHENS — Amid mounting political uncertainty and nervousness in the financial markets, Prime Minister Antonis Samaras of Greece pressed ahead on Tuesday with his decision to accelerate the timetable for the presidential election, a gamble that puts his government on the line and provides an opening for a leftist opposition party that opposes the terms of Greece’s international bailout.
Mr. Samaras said his coalition’s presidential candidate for the election, the first round of which is to be held next week, would be Stavros Dimas, a former member of the European Commission and a fellow conservative.Mr. Samaras said his coalition’s presidential candidate for the election, the first round of which is to be held next week, would be Stavros Dimas, a former member of the European Commission and a fellow conservative.
The decision to move forward presidential elections scheduled for February came a few hours after eurozone finance ministers granted Greece a two-month extension to the European part of its bailout program totaling 240 billion euros, or $297 billion, potentially paving the way for a credit line next year to keep the country afloat if it cannot tap international markets. The decision to move forward presidential elections scheduled for February came a few hours after eurozone finance ministers granted Greece a two-month extension to the European part of a joint bailout program with the International Monetary Fund worth a total of 240 billion euros, or $297 billion. The move potentially paves the way for a credit line next year to keep the country afloat if it cannot tap international markets.
Mr. Samaras said the aim of the election was to remove public uncertainty and restore political stability.Mr. Samaras said the aim of the election was to remove public uncertainty and restore political stability.
“With the election of a new president, Greece — now absolutely stable economically and politically — will be ready in every way to proceed to the day after, to calmness, stability and growth,” he said in a televised address on Tuesday.“With the election of a new president, Greece — now absolutely stable economically and politically — will be ready in every way to proceed to the day after, to calmness, stability and growth,” he said in a televised address on Tuesday.
Mr. Samaras said the decision to extend Greece’s bailout “shows that in Europe, too, there is the realization that Greece is turning a page.”Mr. Samaras said the decision to extend Greece’s bailout “shows that in Europe, too, there is the realization that Greece is turning a page.”
But Greece’s creditors — the European Commission, European Central Bank and International Monetary Fund — remain concerned about political instability, and their negotiations on economic policy with the current government have stalled.But Greece’s creditors — the European Commission, European Central Bank and International Monetary Fund — remain concerned about political instability, and their negotiations on economic policy with the current government have stalled.
In the event of early general elections, the country’s leftist opposition party Syriza is positioned to perform strongly, according to opinion polls. And, despite moderating his radical image, the Syriza leader, Alexis Tsipras, still wants to break from austerity policies that have dominated Greece for four years and to restructure the country’s huge debt burden’, which stands at 174 percent of gross domestic product. In the event of early general elections, the country’s leftist opposition party Syriza is positioned to perform strongly, according to opinion polls. And, despite moderating his radical image, the Syriza leader, Alexis Tsipras, still wants to break from austerity policies that have dominated Greece for four years and to restructure the country’s huge debt burden, which stands at 174 percent of gross domestic product.
The move triggered major jitters in the Greek capital. The Athens Stock Exchange fell more than 10 percent, the biggest plunge in years. Bank shares were down almost 14 percent and 10-year bond yields soared to 7.86 percent, a level that effectively blocks Greece from raising capital in the markets. The move prompted major jitters in the Greek capital. The Athens Stock Exchange fell more than 10 percent, the biggest plunge in years. Bank shares were down almost 14 percent, and 10-year bond yields soared to 7.86 percent, a level that effectively blocks Greece from raising capital in the markets.
In a statement on Tuesday, Mr. Tsipras claimed that Mr. Samaras had not chosen to bring forward elections but had been forced to because of the “government’s policies led to a deadlock.”In a statement on Tuesday, Mr. Tsipras claimed that Mr. Samaras had not chosen to bring forward elections but had been forced to because of the “government’s policies led to a deadlock.”
The leftist leader appeared confident that presidential elections would produce an impasse and that snap general elections would be held, leading to a “government of national salvation with Syriza at its core,” indicating that the leftists could form a coalition with other parties. “At last today we know the date, Dec. 29, when the disastrous term of the government of the memorandum will end,” he said, referring to the country’s loan agreement with creditors which came attached with onerous austerity measures that have slashed household incomes by a third and pushed unemployment to 26 percent. The leftist leader appeared confident that presidential elections would produce an impasse and that snap general elections would be held, leading to a “government of national salvation with Syriza at its core,” indicating that the leftists could form a coalition with other parties.
The role of president in Greece is largely ceremonial but failure to approve a candidate must be followed by snap general elections, according to the Constitution. The first round of presidential elections is to be held Dec. 17 with two more rounds expected to follow on Dec. 23 and 29. “At last today we know the date, Dec. 29, when the disastrous term of the government of the memorandum will end,” he said, referring to the country’s loan agreement with creditors, which came attached with onerous austerity measures that have slashed household incomes by a third and pushed unemployment to 26 percent.
Mr. Samaras’s coalition, which controls 155 seats in the 300-member Parliament, cannot garner the 200 seats necessary to approve its candidate in the first and second round and will struggle to amass the 180 votes needed in the final vote. The role of president in Greece is largely ceremonial, but failure to approve a candidate must be followed by snap general elections, according to the Constitution. The first round of presidential elections is to be held Dec. 17, with two more rounds expected to follow on Dec. 23 and 29.
Mr. Samaras’s coalition, which controls 155 seats in the 300-member Parliament, cannot garner the 200 seats necessary to approve its candidate in the first and second round and will struggle to amass the 180 votes needed in the final vote. Lawmakers participate in the votes, which are held by roll call in Parliament.
Despite the huge gamble ahead, Mr. Samaras appeared confident of his government’s chances. He described Mr. Dimas as a “person respected by Greek society but also by the international community” who “unites citizens beyond their political preferences.”Despite the huge gamble ahead, Mr. Samaras appeared confident of his government’s chances. He described Mr. Dimas as a “person respected by Greek society but also by the international community” who “unites citizens beyond their political preferences.”
There are serious doubts, however, that any candidate proposed by the coalition would gain adequate support from opposition lawmakers to avert general elections.There are serious doubts, however, that any candidate proposed by the coalition would gain adequate support from opposition lawmakers to avert general elections.