Greek PM Could Call Elections if Reform Support Needed

Greece’s problems are far from over as the country’s leftwing prime minister warned that he might be forced into calling an early election if he does not have the support of his party to push through key reforms.

Speaking to a local radio station Wednesday, Alexis Tsipras said: “I would be the last person to want elections, if I had the secured parliamentary majority to make it through to the end of the year,” he said, Reuters reported.

“But if I don’t have a parliamentary majority, we will be forced to go to elections.”

Tsipras’ warning comes as talks between Greece and its lenders over a third 86 billion euro ($95.1 billion) bailout are supposed to get underway on Wednesday, but there are already doubts over whether a deal can be signed, sealed and delivered before the next billion euro debt to lenders is due.

Nerves are already frayed on both sides, given the political tensions in Greece over the controversial austerity measures and reforms that had to be passed at a record pace over the past two weeks in order to get a bailout deal.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza