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TURMOIL Greece Could Face New Elections Angelos Tzortzinis, AFP / Getty Images

Greece Could Face New Elections

Bailout-reliant Greece could face new elections, after both leading parties lost at yesterday’s polls, letting a right-wing extremist group into Parliament with not enough votes to govern alone. The frontrunning New Democracy party failed to form a coalition government on Monday, which leaves the mandate in the hands of the leader of the second party, the Coalition of the Radical Left. President Karolos Papoulias will meet with Alexis Tsipras, that party's leader, on Tuesday, and if he fails to form a coalition, Socialist leader Evangelos Venizelos will have a go. If he fails as well, Greece’s president will appoint an interim government in mid-June to reinstate new elections in 30 days—around the same time that it must spell out new austerity measures to avoid being pushed out of the euro zone.

May 7, 2012 3:40 PM