Greece: Greece plunged into crisis as failure to elect president sets up snap election | The Guardian

Fears were growing on Monday night of a fresh crisis in the eurozone after Greece failed to elect a head of state, triggering a snap election that is tipped to bring radical, anti-austerity leftists to power. The Athens stock exchange slumped by more than 10% at one point as concerns mounted over the political turmoil likely to hit the twice bailed-out country. The effective interest rate on the nation’s three-year debt soared to more than 12% – signalling investor fears that Greece will not be able to repay its loans in the short term. Elections were called for 25 January after the government failed to find enough votes to elect its preferred candidate for president, the former European commissioner Stavros Dimas. With the vehemently anti-cuts Syriza opposition ahead in the polls, the campaign will now revive the debate about austerity policies across the eurozone and raise questions over the harsh terms attached to Greece’s €240bn (£188bn) bailouts. 

Full Article: Greece plunged into crisis as failure to elect president sets up snap election | World news | The Guardian.

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