Nothing to do. The agreement between the Greek political forces has not been found and Athens is moving towards new elections. This was stated by the former finance minister, now leader of the socialist Pasok party, Evangelis Venizelos at the end of the meeting between the country's main parties and the President of the Republic, Karolos Papoulias. “Now there is hope for a more mature vote,” he added, “Unfortunately, Greece will return to the polls, in very bad shape".
The clash between pro-European forces and parties who insist on the impossibility of continuing to impose draconian measures on Greece will heat up. Tomorrow at 13.00 local leaders of the main parties will meet again with the head of state to decide the transitional government until the new elections, scheduled for 10 or 17 June.
Fotis Kouvelis, party leader Democratic Left (19 seats in the last election), he said not wanting to back down on the proposal to maintain collective agreements and that this was one of the points where he failed the deal. Furthermore, Kouvelis insisted that he had “done everything to avoid new elections. But already from the first moment some parties had decided to return to the polls”.
It is probable that the leader was referring tothe radical Syriza party (52 seats)by Alexis Tsipras that, according to the most recent polls, he could emerge victorious in the next elections. In any case, a fragmented parliament would emerge and Tsipras would face many obstacles to carry forward his plan, which provides for the proposal of an international agreement for the partial cancellation of the debt to bring liquidity into the real economy, the end of the austerity policy , to tax big capital and create a state-controlled credit system.
Panos Kammenos, leader of the right-wing party Independent Greeks, also opposed to the Troika measures, said i Greek citizens must "choose between Merkel and a free Greece". “The parties that support the bailout prefer a government that continues to harass the Greek nation, rather than finding a solution. They have offered too rigid solutions that I cannot accept”.
European markets reacted with a sell-off on the main lists. Milan closed at -2,56% and lo Btp-Bund spread flared up to exceed 440 basis points. The Athens Stock Exchange is at its lowest level since 1992 and the yield on Greek 10-year bonds increased 110 basis points to 27,4%.
Finally we must remember that this afternoon Athens repaid 435 million bonds to international creditors when in March he strongly insisted that anyone who did not join the debt restructuring would not get any payments. The loser, therefore, is that 97% of individuals, mainly banks, who, with the threat of not seeing their bonds repaid, had "voluntarily" accepted the extension of the debt maturities.
