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In Elections, Greeks Are Expected to Make Old Guard Pay for Turmoil.
- 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]
- Subjects :
- *ELECTIONS
*AUSTERITY
*RECAPITALIZATION
*U.S. state budgets
*RECESSIONS
Subjects
Details
- Language :
- English
- ISSN :
- 03624331
- Volume :
- 161
- Issue :
- 55762
- Database :
- Academic Search Index
- Journal :
- New York Times
- Publication Type :
- News
- Accession number :
- 74973065