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Greece, in search of a lost government

Tsipras' radical party has three days to form a coalition government – ​​But alliances are hard to predict – A return to the drachma? Madness for other European countries – The EU Commission and Germany insist: “The agreements must be respected”, otherwise Greece will no longer obtain any funding.

Greece, in search of a lost government

The Greek riddle has two solutions. The rejection of austerity measures or the return to the polls. Antonis Samaras, the leader of the winning New Democracy party which obtained 18,8% of the vote and 108 seats (also thanks to the majority premium), announced last night that he was unable to form a coalition government. Samaras hoped to find an alliance with the centre-left Pasok party of Evangelos Venizelos (13,1% with 41 seats): Pasok and Neo Demokratia are the two parties that backed the coach Papademos and backed the Troika aid package . There was an understanding between the two but even by uniting all the seats you don't get a majority: only 149 seats out of a total of 300. Samaras tried to find an agreement with Syriza, the second party with 16,7% of the vote and 52 seats, but received spades, as young leader Tsipras founded his own electoral campaign on the rejection of austerity.

The President of the Republic, Karolos Papoulias, has given Tsipras three days to start consultations with the other parties and seek an agreement to form the new executive. The leader of the radical party has asked Pasok and Nova Demokratia to renounce the agreements made with foreign investors. But Samaras even proposed an increase in austerity measures, and after having his proposal for a coalition rejected, it is unlikely that he will give in to Tsipras. Venizelos was the number one mediator between the EU and Greece: after all the efforts made to find compromises with Europe, Pasok will hardly agree to a government that wants to renegotiate with the EU. However, the two leaders will meet on Wednesday.

Yet if all five parties against austerity (of which, however, some also against the euro) yes put together, there would be 151 seats, precise. Already a Democratic Left, which with 6,1% of the votes has 19 seats, you supported the radical Tsipras for a government opposed to the reforms imposed by Europe. But is it plausible to foresee an alliance between radicals, communists and neo-Nazis in the name of rejecting austerity? It is a rather unlikely hypothesis. It is much more realistic to see the Greeks go back to voting. Sources close to the government have suggested June 17 as a possible date.

Also because we must not forget that the communists of the KKE and the neo-Nazis of Golden Dawn are demanding that Greece abandon the euro. But is a return to the drachma really possible? Formally, the European Union does not yet envisage a procedure for leaving the Euro without leaving the Union. But in practice anything is possible. Even if, as several economists point out, a sharp devaluation of the single currency would result: a significant problem especially for the peripheral countries whose debts would rise to even greater figures. 

“The popular verdict,” Tsipras said in a televised speech, “clearly canceled the loan agreement and the commitments undertaken with Europe and the IMF”The EU Commission replied that it hopes to see a government that supports the agreed reforms. "We respect Greek democracy," said the EU commissioner for monetary affairs Olli Rhen, ma Brussels hopes that "the reforms will be supported". 

Germany also wanted to put pressure on Greek politicians. Indeed, in the coming months Greece will be required to cut billions of euros to obtain the rescue package and the president of the European Parliament, Martin Shultz stated that “the agreements must be respected. I don't think we need to renegotiate." the terms of the agreement. 

Meanwhile yesterday the Square of Athens lost almost 7% and today it lost a further 3,6%. 


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