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BBC News - Greek election: Syriza 'to tear up EU austerity deal'

The leader of Greece's left-wing Syriza bloc has said he will try to form a coalition based on tearing up the terms of the EU/IMF bailout deal.

Alexis Tsipras, whose bloc came second in Sunday's vote, said Greek voters had "clearly nullified the loan agreement".

He has three days to reach a coalition deal and has told the two major parties to end their support for the austerity terms if they want to take part.

The European Commission and Germany say countries must stick to budget cuts.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue May 8th, 2012 at 02:38:04 PM EST
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Italy facing uphill battle to ratify EU's fiscal compact - Telegraph

Mr Monti took over as head of a technical government last November, after ruling centre right Prime Minister Silvio Berlusconi stepped down. His first measures were the introduction of tax hikes and spending cuts in a bid to tackle the country's enormous public debt.

Initially Mr Berlusconi and his People of Freedom Party as well as the centre left opposition gave him a hesitant backing but now there is growing unease from many about whether Mr Monti can continue to steer the country until next year's scheduled general election.

The former premier also stressed that "we won't commit ourselves to voting for measures we don't agree with" which could make it tough for Mr Monti's government to press ahead with its programme of structural economic reforms designed to revive the recession-hit Italian economy, including unpopular labour-market measures.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue May 8th, 2012 at 02:48:44 PM EST
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Way to go, dude!

I have a t-shirt with that on it. And whatever you do, DON'T BLINK!
by THE Twank (yatta blah blah @ blah.com) on Tue May 8th, 2012 at 04:10:36 PM EST
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