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FAIL Greece to Hold New Elections Aris Messinis, Pool / AP Photo

Greece to Hold New Elections

Greece will hold a new election at some point in the near future, a spokesperson for President Karolos Papoulias said Tuesday—just nine days after an inconclusive vote. Politicians have failed to form a government, and the uncertainty only prolongs the political crisis that could push the country closer to bankruptcy. Although Papoulias did not give a date for the election, rules dictate it will most likely happen sometime in mid-June. A caretaker government will be formed on Wednesday, a spokesman said. Polls show that the leftist Syriza, which rejects the bailout and came in second in the last election, holds the lead.

May 15, 2012 9:54 AM