Greece Leftists Abandon Efforts to Form Government

Posted May 9th, 2012 at 5:05 pm (UTC-5)
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Greek far left leader Alexis Tsipras has abandoned his efforts to form a new government after Sunday's parliamentary elections ended in a deadlock.

Tsipras said Wednesday he could not get enough support in parliament to make what he calls his dream of a left wing government come true.

Tsipras called on the conservative and socialist parties to renounce their support for deep spending cuts as demanded by the European Union bailouts.

He said the Greek voters nullified the international loan agreement.

The conservative New Democracy party also failed to find enough backing this week to form a new government. The mandate now goes to the socialist PASOK party. If it also fails, Greece will have to hold new elections.

New Democracy won the most parliamentary seats in Sunday's election, followed by Tsipras' Radical Left and PASOK. But no party won enough seats to be able to put together a new government on its own.

Nervous European leaders are pressuring Greece to carry through with the economic austerity plans imposed on Athens in return for more than $300 billion in two bailouts.