Greek parties promise more coalition talks

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Greek parties promise more coalition talks

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Greek political leaders will continue negotiations to build a unity government in a desperate last bid to avoid a new election, according to state TV.

Three leaders were summoned for talks with Greek president Karolos Papoulias on Monday evening. They left after an hour. Discussions will reportedly resume on Tuesday with all parties that won seats during the May 6 vote, except the far-right.

The main parties have failed, despite several attempts, to form a unity government following an inconclusive vote eight days ago that saw Greece’s electorate split over whether to try to renegotiate a 130 billion euro bailout.

The uncertainty has caused European leaders to warn Athens that it could be forced to abandon the single currency, a move which analysts think would lead to a disorderly debt default.

Radical leftist Syriza party leader Alexis Tsipras was noteably absent from the meeting.

Some analysts think the chances are slim of Greece avoiding a fresh election without him.

Still Papoulias successfully brokered an emergency coalition under similar conditions six months ago.