February 9, 1956

ELECTIONS: Political and economic circles have begun to express concern about the market’s reactions to the communist slogans being heard at rallies by candidates from the Democratic Union (comprising George Papandreou, Sophocles Venizelos, Constantine Tsaldaris and the United Democratic Left). Generally, the Democratic Union’s chances of winning the election, albeit slim, have created an atmosphere of tension which the rallies only serve to exacerbate. Moreover, the unusually high demand for gold sovereigns, with a resulting price increase to over 330 drachmas, a reduction in bank deposits after what was until just recently a steady rise, and the postponement of a number of major public works in Athens and the countryside have been attributed to a wait-and-see attitude until the outcome of the elections. ALEXANDROS SVOLOS: The presence of Mr Alexandros Svolos among the officials of the Democratic Union and the rumor that if the party won he would assume the ministerial post at the Finance Ministry have given rise to concern on the part of the population which knows that as a minister after the occupation, Mr Svolos implemented Law 18, which whittled away workers’ and small-business owners’ incomes.

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