Bloomberg: Greek leaders given bailout ultimatum

09 May 2012

Tsipras wanted Antonis Samaras of New Democracy and Evangelos Venizelos, who leads the Pasok party, to send a letter to the EU revoking their written pledges to implement austerity measures, by the time he meets them today to discuss a government alliance. Samaras and Venizelos rejected the request.

"He interprets, with unbelievable arrogance, the election result as a mandate to drag the country into chaos”, Samaras said. New Democracy and Pasok, rivals until the country’s crisis made them pro-bailout partners in a national government last year, are two deputies short of the 151 seats needed for a majority in the 300-seat chamber. President Karolos Papoulias handed the mandate to build a coalition to Tsipras yesterday after Samaras, who won the election, abandoned his bid to forge a government after six hours of talks. Each mandate can last for three days.

Tsipras said he aimed to link up with parties in a government that would nationalise banks, place a moratorium on debt payments, and cancel the bailout and measures such as labour reforms and pension cuts. “The bailout parties no longer have a majority in parliament to vote for measures that plunder the country”, Tsipras said. “There will be no €11 billion of additional austerity measures; 150,000 jobs will not be cut.”

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