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Euro area: Political crisis in Greece continues
New elections within a few weeks. Uncertainty to remain high, but even if Syriza wins, Grexit is unlikely. Not unexpectedly the Greek government’s presidential candidate Stavros Dimas failed to get the 180 votes needed to become the country's next president. As in the second round, Dimas got just 168 votes. Greece is now trapped in ongoing uncertainty that could jeopardize the recovery and discussions with the Troika. Parliament has to be dissolved within 10 days and snap elections called within the following 30 days. Press reports mention 25 January and 1 February as the most likely dates. In opinion polls, the ... (full story)
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