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Sunday, May 13, 2012 6:58 PM

Greek Communist Party Calls For Annulment of Greek Loan Deal; Yet Another Unfortunate Atttempt to Broker a Deal

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I was hoping for an election announcement today, but the pressure is on for "one" more day as Greek President to Meet Four Party Leaders Tomorrow in one more attempt to form a "Unity Coalition".

Greek President Karolos Papoulias will meet with political party leaders at 7:30 p.m. tomorrow as discussions on forming a national unity government continue, state-run NET TV said, without citing anyone.

New Democracy leader Antonis Samaras, Pasok leader Evangelos Venizelos and the head of the Democratic Left party Fotis Kouvelis will attend the meeting, NET reported. NET initially said that Syriza party head Alexis Tsipras was also expected to attend the meeting, but later reported he would not be taking part.
Greek Communist Head Calls For Annulment of Greek Loan Deal

 The Wall Street Journal reports Greek Communist Head Calls For Annulment Of Greek Loan Deal
The head of Greece's Communist KKE party Sunday called for the annulment of the country's loan deal, ruling out her party's participation in a coalition government, even as Greece scrambles to resolve a weeklong political deadlock following inconclusive polls last week.

"We will introduce legislation in the Greek parliament, which is going to set out very specifically the elimination and annulment of the [loan agreement], Aleka Papariga said after a meeting with Greece's president Karolos Papoulias.

For the benefit of Greece and taxpayers in the Eurozone in general, let's hope this last attempt to form a coalition falls flat.

The sooner Greece leaves the euro, the sooner it will have a chance to recover.

Mike "Mish" Shedlock
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