Greece Fails to Form Unity Government

Ater failing to form a unity government over how to deal with the European Union-mandated bailout package, Greece will have to hold a new round of general elections. Greek president Karolos Papoulias on Tuesday reached an impasse in his bid to convince the leaders of five parties to form a government. The two other parliamentary parties - the Communist Part and the far right, Golden Dawn party - were not included in the talks. After he left the presidential palace following the talks, Democratic Left's Fortis Kovelis said "It is all over" in reference to whether or not there will be talks tomorrow, strongly suggesting that new elections will be in order, the Ekathimerini publication reported. There is no agreement between political forces. After the talks fell apart, the markets reacted negatively. The Athens stock market dipped as much as 4.86 percent down on the day. The elections will be held next month, meaning that another month of political squabbling can be expected.