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In Elections, Greeks Are Expected to Make Old Guard Pay for Turmoil.

Authors :
Donadio, Rachel
Kitsantonis, Niki
Source :
New York Times. 5/5/2012, Vol. 161 Issue 55762, p4. 0p.
Publication Year :
2012

Abstract

ATHENS -- In the two years since Greece asked for a foreign bailout, its leaders have had trouble governing even with a clear majority. Now, as the country heads to elections on Sunday in which no single party is expected to secure enough votes to form a stable government, they may have to try governing with political chaos. Along with elections in France, and with a rising tide of anti-austerity sentiment across Europe, Greece's vote is expected to have a clear impact on the future of the euro. The next government, amid a deepening recession and facing likely social unrest, will have to enforce the country's loan agreement with its foreign creditors, which stipulates slashing $15.5 billion from the state budget over the next two years and completing a crucial bank recapitalization. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
03624331
Volume :
161
Issue :
55762
Database :
Academic Search Index
Journal :
New York Times
Publication Type :
News
Accession number :
74973065