GREECE-VOTE/ECONOMY-REAX Stocks fall after general election called, Greeks divided
Record ID:
328412
GREECE-VOTE/ECONOMY-REAX Stocks fall after general election called, Greeks divided
- Title: GREECE-VOTE/ECONOMY-REAX Stocks fall after general election called, Greeks divided
- Date: 29th December 2014
- Summary: ATHENS, GREECE (DECEMBER 29, 2014) (REUTERS) EXTERIOR OF PARLIAMENT VARIOUS OF PEOPLE WALKING ON SYNTAGMA SQUARE IN CENTRAL ATHENS (SOUNDBITE) (Greek) ATHENS RESIDENT GEORGIA TRIANTAFYLLIDOU, A TEACHER, AGED 50, SAYING: "I am pleased, I would rather we have elections because I believe we have been going constantly downhill with no end in sight, so it is time for the people to decide from now on." (SOUNDBITE) (Greek) ATHENS RESIDENT VASSILIS, AGED 58, SAYING: "The country will finally get rid of these people that for the last four years have been drinking our blood." (SOUNDBITE) (Greek) ATHENS RESIDENT NADIA, AGED 54, SAYING: "I am worried because I have no idea what will happen." (SOUNDBITE) (Greek) ATHENS RESIDENT STAMATIS KOSKINAS, A PLUMBER, SAYING: "I am very pleased that we are going to elections, the time of the people has come and I hope that we will get rid of the bailout and all those evils that have been imposed upon us by the lenders." (SOUNDBITE) (Greek) ATHENS RESIDENT EFSTATHIOS SERMIE, A LAWYER, SAYING: "I believe the elections will make us go through another difficult period without having any result because no party will be able to govern on its own and therefore I do not know whether coalitions will be able to form." VARIOUS OF INTERIOR OF ATHENS STOCK MARKET EXCHANGE AND SHARE PRICE TICKER SHARE PRICE TICKER (SOUNDBITE) (English) GREEK FINANCE MINISTER GIKAS HARDOUVELIS SAYING: "Well, this is normal political process, they shouldn't worry about it, the Greek people are very clear, they do want Greece to stay in the euro area, they didn't want the new elections and I think this is a delay that is part of the political system, there is nothing to say more." SHARE PRICE TICKER AND GRAPHS SHARE GRAPHS INTERIOR OF ATHENS STOCK EXCHANGE SHARE PRICE TICKER
- Embargoed: 13th January 2015 12:00
- Keywords:
- Location: Greece
- Country: Greece
- Topics: General
- Reuters ID: LVA3U88QEUWP9XB5A7MT9OZ7GVXI
- Story Text: Greeks were divided on Monday (December 29) and the Athens stock exchange fell as Prime Minister Antonis Samaras announced a snap general election for next month when parliament rejected his candidate for president, throwing the country's international bailout into doubt.
After three rounds of voting, the only candidate in the race, former European Commissioner Stavros Dimas, fell short of the 180 votes needed to become president, triggering a procedure leading to the dissolution of parliament.
"I am pleased, I would rather we have elections because I believe we have been going constantly downhill with no end in sight, so it is time for the people to decide from now on," said 50 year-old teacher Georgia Triandafyllidou.
"The country will finally get rid of these people that for the last four years have been drinking our blood," said another Athens resident, 58 year-old Vassilis.
But not all Greeks welcomed the parliament's failure to elect a new president as some worried the snap elections could bring instability.
"I am worried because I have no idea what will happen," said 54 year-old Nadia who did not wish to give her last name.
"I believe the elections will make us go through another difficult period without having any result because no party will be able to govern on its own and therefore I do not know whether coalitions will be able to form," said Efstathios Sermie, a lawyer.
Samaras announced parliamentary elections would be held on January 25.
Opinion polls point to a victory by the radical leftist Syriza party, which wants to wipe out a big part of Greece's debt, and cancel the terms of a bailout from the European Union and International Monetary Fund that Greece still needs to pay its bills.
The result leaves financial markets and Greece's European Union partners facing weeks of uncertainty that could undermine fragile signs of economic recovery and derail its public finances.
Underlining the potential volatility facing markets, the main Athens stock market index fell seven percent while Greek bond yields jumped above nine percent. The main banking stocks index was down more than 11 percent.
A negotiating team from the "troika" of creditors from the European Commission, IMF and European Central Bank, had been due to resume talks in Athens next month to wind up the 240 billion euro ($290 billion) bailout and agree an interim, post-bailout programme.
Greek finance minister Gikas Hardouvellis urged for calm as he left parliament.
"Well, this is normal political process, they shouldn't worry about it, the Greek people are very clear, they do want Greece to stay in the euro area, they didn't want new elections and I think this is a delay that is part of the political system, there is nothing to say more," he said.
In a bid to reassure international partners, Syriza leader Alexis Tsipras has sounded a more moderate tone recently, promising to keep Greece in the euro and negotiate an end to the bailout agreement rather than scrap it unilaterally. - Copyright Holder: REUTERS
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