Greece Could Face New Elections

    A man prepares his vote for Greece's general elections in Athens on  May 6, 2012.  Greece readies for today's elections with voters angry about austerity cuts and uncertainty over whether a new government can be formed with a strong enough mandate to push through yet more reforms demanded by its international creditors. AFP PHOTO / Angelos Tzortzinis        (Photo credit should read ANGELOS TZORTZINIS/AFP/GettyImages)

    Angelos Tzortzinis, AFP / Getty Images

    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.

    Read it at New York Times