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In-Briefs

Greece: Talks to Form Broad Coalition Continue

June 19, 2012
| Economics
| Europe
The New Democracy Party, which won the most votes in parliamentary elections on June 17, and the Socialist PASOK party, which came in third, are continuing efforts to broaden their coalition to ensure a comfortable ruling majority in the 300-member parliament . . . the coalition partners are meeting with the small Democratic Left party in hopes of gaining additional support for economic reforms needed to meet international lender requirements . . . the ruling coalition will also attempt to win lender concessions to ease some of the most difficult austerity requirements . . . the leftist Syriza party, which opposes international loans, came in second in the vote and won a strong presence in parliament . . . even without any other parties, New Democracy and PASOK control enough seats – 162 – to govern, but additional supporters would help ease the process of implementing austerity and negotiating with international lenders . . . the new government is likely to ask for more time to meet lender requirements in exchange for additional economic reforms and additional bailout funds.

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