Whilst Legarde has continued to maintain that Greece will stay in the EU she has had to recognise that is by no means a certainty. The Greek election gave no political party a clear mandate to rule and successive parties have found it impossible to form a coalition. It now appears that Greeks will go to the polls once more. Perhaps now the gravity of the situation is plain for all to see a higher turnout will follow.
That said, it may not.
So many Greeks obviously feel dispirited with the current political parties of Greece. Even more will be totally disillusioned about the EU and their country's membership. Waiting in the wings of course is German Chancellor Angela Merkel. Like an adept puppeteer she pulls the strings as around her European leaders fall and economies crumble.
Christine Legarde, head of the IMF, today, May 15, 2012, has said that the Eurozone, IMF and Europe must make preparations for if Greece leaves the EU. If they do other countries are sure to follow. As the latest talks to try and form a coalition government fail it has been announced that a new election will be held in June. More expense for the troubled Greek people. Instantly the Greek stock exchange took a tumble. European markets nose dived and the economy has flatlined in response.
A caretaker government will now hold the reins of Greek government until the expected election in June 2012. Greece is not alone as a country in crisis.
Tags:Greek election, Greek coalition, IMF, Christine Legarde, Greece may leave EU, Eurozone