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Greek election: stability test

FXBAZOOKA.com - Greek government faces the first of three rounds of a presidentioal vote on Wednesday, December 17. The outcome will determine whether the country is forced into snap national elections and a new period of political uncertainty.

Prime Minister's Antonis Samaras conservative-leftist coalition is at risk of a failure in the first round, when it needs to gain support of 200 lawmakers in the 300-seat chamber to elect its nominee, Stavros Dimas. Another 2 rounds are scheduled for Dec. 23 and Dec. 29 when the majority required for victory falls to 180.

Failure of the qualified majority to elect a president will trigger early elections, which would probably be won by the radical leftist Syriza party that doesn't support the Greek bailout programme. In this case question of the "Grexit" out the euro zone will return into the limelight. 

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