Friday October 24, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Party leaders gather to appoint caretaker PM as pressure on Greece grows

Greek party leaders met with President Karolos Papoulias on Wednesday to appoint a caretaker prime minister and government that would lead Greece to new elections that many hope will end the political instability threatening the country’s future.

The leaders of all the parties elected to Parliament on May 6, apart from Chrysi Avgi (Golden Dawn) chief Nikos Michaloliakos, convened for the meeting with Papoulias.

If the party leaders fail to agree on a common candidate to take over as caretaker prime minister, President Karolos Papoulias will appoint one.

The constitution decrees this should be the head of one of Greece’s three highest courts. The favorite to be given the job is Council of State president Panayiotis Pikramenos. He will then agree on a new cabinet with the help of Papoulias.

The MPs elected on May 6 will be sworn in tomorrow but Parliament will be dissolved on Monday or Tuesday so elections can be held, most probably on June 17.

There is concern about Greece’s banking system after President Karolos Papoulias informed party leaders on Monday that about 700 million euros had been withdrawn by savers on that day.

According to the minutes of the meeting, Papoulias said that Bank of Greece Governor Giorgos Provopoulos said there was no panic or danger of a bank run at the moment but he expressed concern that “fear could turn into panic”.

An average of almost 3 billion euros has been withdrawn from Greek banks each month since the crisis began but the Financial Times quoted unnamed banking sources as saying that about 5 billion euros has been withdrawn this month alone.

France’s new Socialist President Francois Hollande sought to assuage fears about Greece’s future when he met with German Chancellor Angela Merkel in Berlin on Tuesday.

"I hope that we can say to the Greeks that Europe is ready to add measures to help growth and support economic activity so that there is a return to growth in Greece,» he said.

However, German Finance Minister Wolfgang Schaeuble moved quickly on Wednesday to douse any hopes Greek politicians might have of changing the terms of the EU-IMF loan deal.

"This is an aid programme that was prepared down to the last detail, we cannot re-negotiate it,” Schaeuble told Deutschlandfunk radio

Greece’s crisis is also having an impact on stock markets, European shares fell on Wednesday morning in a broad-based sell-off due to concerns about the country’s instability.

The FTSEurofirst 300 index fell 0.6 percent to 991.50 by 0828 GMT, having dropped 0.7 percent on Tuesday after Greek politicians failed to put together a ruling coalition, paving the way for a new election and ramping up concern over what would happen if it leaves the euro zone.

"Even if they form a government it remains to be seen if they will find some sort of compromise with Europe, because if you look at the European rhetoric, it doesn't seem too happy to give too many concessions to Greece at this point,» Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets in Brussels, told Reuters.

ekathimerini.com , Wednesday May 16, 2012 (13:24)  
Venizelos slams Turkey for ´flagrant violation of international law´ off Cyprus
Cyprus president to be released from hospital on Friday following readmission
Clocks to go back 1 hour on Sunday
Woman killed in tram accident in Floisvo, south of Athens
ECB bank assessment to show 6-billion-euro capital gap, Citi says
The euro area’s biggest banks will show a 6 billion-euro ($7.6 billion) capital gap in the European Central Bank’s tests of the quality of their assets and ability to withstand economic shoc...
ECB vies for third time lucky in European stress tests
For the European Central Bank, success as the euro area’s financial supervisor may begin this weekend with a few failures. At noon in Frankfurt on October 26, investors will learn which of t...
Inside Business
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
BASKETBALL
Greens succumb to first loss at Bayern
Panathinaikos’s unbeaten run in all competitions came an end on Thursday as the Greek champion lost 81-75 at Bayern Munich for the Euroleague. Bayern is a team that improves every year, and ...
Inside Sports
COMMENTARY
Tension for tension’s sake?
It is evident that Turkish President Recep Tayyip Erdogan feeds off tension. He would barely have achieved as much as he has – and prevailed – if he had not been so keen to confront a series...
EDITORIAL
Testing ground
The Regional Authority of Attica is a good testing ground for politicians who appear to thrive on accusations to prove whether they can actually solve major problems of a practical nature. T...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. ECB bank assessment to show 6-billion-euro capital gap, Citi says
2. Venizelos slams Turkey for ´flagrant violation of international law´ off Cyprus
3. ECB vies for third time lucky in European stress tests
4. Cyprus president to be released from hospital on Friday following readmission
5. Cyprus GDP upgrade seen as boosting bailout exit plans
6. Clocks to go back 1 hour on Sunday
more news
Today
This Week
1. Woman killed in tram accident in Floisvo, south of Athens
2. Clocks to go back 1 hour on Sunday
3. Cyprus GDP upgrade seen as boosting bailout exit plans
4. Cyprus president to be released from hospital on Friday following readmission
5. ECB vies for third time lucky in European stress tests
6. ECB bank assessment to show 6-billion-euro capital gap, Citi says
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Coalition shooting itself in the foot
3. Greece’s closed society is central to its current malaise
4. Greece must stick to reforms, says Schaeuble
5. At least 11 banks to fail European stress tests, three in Greece, report says
6. Cyprus to block Turkey's EU talks after EEZ violation
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.