May 9, 2012
The Greek left-wing politician tasked with forming a new government after the country's parliamentary elections has called the Greek bailout agreement invalid. Several German leaders responded Wednesday by demanding that Greece stick to the negotiated austerity measures if it wants to receive future international financial aid.
As Greece struggles to form a coalition government in the wake of the May 6 parliamentary elections, several German leaders voiced their demands Wednesday that the country stick with the austerity measures negotiated as part of the most recent bailout package.
"Greece must know that there is no alternative to the agreed to restructuring arrangement, if it wants to stay a member of the euro zone," Jörg Asmussen told the German business daily Handelsblatt.
Asmussen, who is a member of the executive board of the European Central Bank (ECB), essentially issued an ultimatum to Greece, according to the paper, telling politicians in Athens that if they abandon the austerity measures that go with the second rescue package of €130 billion, the country's European Union backers will cease making their contributions.
Sunday's parliamentary elections in Greece left the country with no clear winner, as voters rejected mainstream pro-austerity political parties, and split their votes among several splinter parties, ranging from the extreme left to the neo-Nazi right.
The election results have led to fears in Germany and the EU that the debt-plagued country will be ungovernable for a longer period of time, and that the negotiated rescue package for the country could fall apart as a result.
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