Daily Archives: June 18, 2012

Archives June 18, 2012 posted by

Greek vote pulls Cyprus from precipice, for now

Greece‘s election result has pulled Cyprus back from the precipice – for now – but Nicosia still has urgent work to do to rescue its banking sector if it is to avoid becoming the next casualty of the euro zone crisis.

The relief of Cyprus officials was palpable on Sunday night as results came in from Athens showing conservative Antonis Samaras had won Sunday’s vote promising to stick to a European bailout, although the government did not immediately comment.

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Archives June 18, 2012 posted by

Greek pro-bailout parties look to forge coalition

 

Political parties supporting Greece’s international bailout begin forging a government on Monday after an election victory over radical leftists staved off the prospect of the debt-laden country leaving the euro and brought relief to global markets.

Conservative New Democracy leader Antonis Samaras called for broad support after winning Sunday’s election over the SYRIZA party, which said it would cancel the aid deal agreed in March to avert bankruptcy in defiance of the country’s lenders.

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