Pressure for coalition government grows

As the emergency cabinet meeting has begun in Athens, government sources warned on Sunday afternoon that there is a serious risk of Greece being thrown of the eurozone unless a political solution is found within the day, while EU Commissioner Olli Rehn said Brussels is working on scenarios for Greece to exit the common currency.

Reports suggested that a meeting between Prime Minister George Papandreou and New Democracy leader Antonis Samaras could take place on Sunday evening, hosted by President Karolos Papoulias.

“There is a serious threat for the country to come out of the euro, a decision must be made today,» sources from the government said before the cabinet meeting started.

The European Union’s Economic and Monetary Affairs Commissioner increased the pressure on Athens to agree to a coalition government: «We have called for a national unity government and remain persuaded that it is the convincing way of restoring confidence and meeting the commitments,» Rehn told Reuters.

He said Greece’s European peers «faced last week a breach of confidence by Greece which meant that Greece took itself on a course that would lead it outside the eurozone. We do not want that but we must be prepared for every scenario, including that one, for the sake of safeguarding financial stability and saving the euro.»