Greece's rollercoaster coalition talks continue

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Greece's rollercoaster coalition talks continue

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Greek political leaders have arrived at the Presidential Palace in Athens in a fresh attempt to clinch an elusive deal on a new coalition government.

The leader of the far-right movement George Karatzaferis, the conservative party leader Antonis Samaras and the outgoing Prime Minister George Papandreou are all in attendance.

This is the fourth day of talks after a deal naming the house speaker as prime minister collapsed.

This has revived the chances for former European Central Bank Vice-President Lucas Papademos to lead the coalition.

The public are becoming increasingly frustrated at the government’s failure to get organised and name a premier.

Efthimos Nadalas, an ordinary resident of Athens said: “It’s a joke! They need to make a decision so we can settle this. They have to move on.”

Iota Chondrou, another local added: “We’ve humiliated ourselves and lost our standing in the world. Now no one trusts us. It’s really bad.”

The stakes are high for a new prime minister. As well as being expected to win parliamentary approval for the bailout, he will also have to pass the 2012 budget and secure the latest 8 billion euro instalment of Greece’s original rescue plan.