Greek Talks Crumble

    Greek President Carolos Papoulias holds a newspaper on May 12, 2012  in his office in Athens. The leaders of the conservative, socialist and radical leftist parties, who all failed to form a government this week, will see Papoulias on May 13, and the latter will subsequently meet with heads of smaller parties, including the neo-Nazi Golden Dawn, Papoulias' office said on May 12.   AFP PHOTO/ POOL / ARIS MESSINIS        (Photo credit should read ARIS MESSINIS/AFP/GettyImages)

    Aris Messinis, AFP / Getty Images

    Matters may be out of Karolos Papoulias’s hands. A last-ditch effort between the Greek president and leaders of the three big parties to form a unity government in the country--where voters are outraged by austerity measures--has reportedly fallen apart. The talks lasted less than two hours. A government must be formed by May 17, or new elections will be held next month. The New Democracy and PASOK parties seemed to be willing to compromise on austerity measures—but the far-left Syriza coalition, opposed the restrictions imposed by the bailout. The president will meet with four smaller parties later Sunday.

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