Wednesday, August 20, 2014
YOLO COUNTY NEWS
99 CENTS

Anti-bailout party rejects Greek austerity pledge

By
From page A2 | May 08, 2012 |

ATHENS, Greece (AP) — Greece’s commitment to austerity is no longer valid because voters have rejected those deals, a left-wing party leader declared Tuesday as he tried to form a new coalition government.

Alexis Tsipras, head of the Radical Left Coalition that came a surprise second in Sunday’s tumultuous election, called upon Greece’s two main party leaders to renege on their support for the multibillion-euro international bailout that is keeping Greece afloat.

“There is no way we will sneak back in again what the Greek people threw out” in the election, he said, referring to resented austerity measures that have slashed incomes since early 2010 and led to record high unemployment.

Tsipras won 16.8 percent of the vote and 52 seats in the 300-member parliament. He received the mandate to form a government after conservative New Democracy leader Antonis Samaras, who came in first with 108 seats and 18.9 percent of the vote, tried and failed on Monday.

As no party won enough votes to form a government alone, a coalition or new elections are Greek politicians’ only options to solve the country’s political gridlock.

“This is a historic moment for the Left and the popular movement and a great responsibility for me,” Tsipras said, adding he would try to form a left-wing government that will “end the agreements of subservience” with Greece’s international bailout creditors.

The result of Sunday’s parliamentary election raised troubling new questions about Greece’s ability to stay solvent and in the euro currency bloc. A failure to put together a government this week would trigger another election in June, increasing fears that Greece’s painful deficit-cutting program — along with Europe’s faltering efforts to resolve its debt crisis — could be derailed.

Greece was expected to pass billions in new austerity measures in the next month in order to get its next batch of bailout money.

Those worries sent shares sinking nearly 7 percent on the Athens Stock Exchange on Monday, and shares dropped a further 1.3 percent by midday Tuesday.

“The pro-bailout parties no longer have a majority in parliament to vote in destructive measures for the Greek people,” he added. “This is a very important victory for our society.”

Tsipras also demanded an examination of Greece’s debt and a moratorium on repayment of the part of it that is “onerous.”

If Tsipras fails to build a government over the next three days, the mandate will pass to Evangelos Venizelos, head of the third-placed Socialist PASOK party. If he is also unsuccessful, party leaders will hold a final effort to reach consensus. If nothing comes from that, elections will take place within a month.

Voters furious over years of painful budget cuts and higher taxes hammered both Samaras’ conservative New Democracy and PASOK in the ballot. The two parties have dominated politics for the last four decades and had backed Greece’s multibillion-dollar bailouts. Support scattered to several smaller parties — ranging from moderate leftists to an extreme right group blamed for street attacks against immigrants.

Greece is now in its fifth year of recession and unemployment has spiked to over 21 percent.

“With the state the economy is in, (Tsipras) does not have the luxury of losing any time,” Dimitris Mardas, an associate professor of economics at Thessaloniki University, told The Associated Press.

Mardas said he believed there was room to negotiate a coalition government.

“If a combination of parties gather more than 50 percent of the seats in parliament, they can govern — period. What anyone else says doesn’t matter. They are professionals, not children,” he said.

Amid the political drama, Greece raised $1.69 billion in a debt auction Tuesday but its short-term borrowing costs continued to creep up. It sold six-month treasury bills at an interest rate of 4.69 percent, compared with a 4.55 percent rate last month.

————

By Derek Gatopoulos. Nicholas Paphitis contributed.

Comments

comments

The Associated Press

.

News

Report details the face of hunger in Yolo County

By Anne Ternus-Bellamy | From Page: A1 | Gallery

 
Summer jobs aren’t always in the bag

By Spencer Ault | From Page: A1 | Gallery

Davis Arts Center gets a new look, thanks to Brooks

By Enterprise staff | From Page: A1 | Gallery

 
More details emerge in Woodland officer shootings

By Lauren Keene | From Page: A1 | Gallery

 
Bob Dunning: Taking on a Specktacular challenge

By Bob Dunning | From Page: A2 | Gallery

For the record

By Enterprise staff | From Page: A2

 
Sunder campaign will be at Farmers Market

By Enterprise staff | From Page: A3

Classic car show slated in Woodland

By Enterprise staff | From Page: A3

 
Students can practice safe bike routes to junior highs

By Special to The Enterprise | From Page: A3

‘Monsters University’ to be screened in Central Park

By Enterprise staff | From Page: A3

 
California regulators approve PG&E rate hike

By The Associated Press | From Page: B3

America’s ‘it’ school? Look west, Harvard

By New York Times News Service | From Page: B3

 
School board preps for new academic year

By Jeff Hudson | From Page: A3

The big moveout, on ‘Davisville’

By Enterprise staff | From Page: A3

 
Public opinion sought about Nishi Gateway

By Lily Holmes | From Page: A4

 
Davis Art Garage honored; bench dedication set

By Special to The Enterprise | From Page: A8 | Gallery

Woodland historical award winners announced

By Enterprise staff | From Page: A8

 
.

Forum

Can’t understand this change

By Creators Syndicate | From Page: B5

 
Delta-friendly water bond is a win for all of California

By Special to The Enterprise | From Page: A6

Bravo! The road diet works

By Rich Rifkin | From Page: A6

 
Support water bond in November

By Letters to the Editor | From Page: A6

Relay for Life team says thanks

By Letters to the Editor | From Page: A6

 
Tom Meyer cartoon

By Debbie Davis | From Page: A6

.

Sports

 
Hard hoops schedule features defending national champs at UCD

By Bruce Gallaudet | From Page: B1 | Gallery

Crisp’s big hit helps A’s

By The Associated Press | From Page: B1 | Gallery

 
Aggie QB is back to pass … Touchdown, Tina! Tina?

By Bruce Gallaudet | From Page: B1 | Gallery

Sacramento scores early to snap skid

By Enterprise staff | From Page: B8

 
Unplayable? Cubs, rain hand Giants a loss

By The Associated Press | From Page: B8

UCD roundup: Aggie gymnasts are awesome at academics

By Enterprise staff | From Page: B8 | Gallery

 
.

Features

Food that travels well for cooking out

By Julie Cross | From Page: A5 | Gallery

 
.

Arts

Crowd funding campaign offers support for Art Theater of Davis

By Special to The Enterprise | From Page: A7

 
Visit Crawfish and Catfish Festival in Woodland

By Enterprise staff | From Page: A7

 
Artists invited to paint at Yolo Bypass Wildlife Area

By Special to The Enterprise | From Page: A7 | Gallery

Goldberg, Milstein to play at Village Homes

By Enterprise staff | From Page: A7 | Gallery

 
The voice on the CD comes alive at Music Together concert

By Enterprise staff | From Page: A7

 
.

Business

.

Obituaries

Railroad museum will host Aberbach memorial

By Enterprise staff | From Page: A4

 
.

Comics

Comics: Wednesday, August 20, 2014

By Creator | From Page: B6