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

Under the category of good news from Greece, The Financial Times reports Greek Unity Talks Hit Impasse. Talks between Greece’s president and the leaders of the country’s three largest political parties on forming a coalition government reached an impasse on Sunday, increasing the chances that the country will hold fresh national elections in June.

Odds of a lasting coalition are slim given the massive vote against the austerity coalition. Fotis Kouvelis, SYRIZA party leader and second place finisher in the elections repeated his position that cooperation with New Democracy and PASOK was not in his intentions. Moreover, Greece's Democratic Left party refuses to join any pro-bailout coalition.

Things are looking better for Greece as the latest report is Greek coalition talks break down in acrimony. Greece appeared to be heading for fresh national elections after last-ditch coalition talks chaired by the country’s president ended in mutual mud-slinging by the conservative, socialist and leftwing leaders.

Sticking with quotes from the Guardian Live Election Blog, New Democracy leader Antonis Samaras "Will Honour Commitments to the EU". Samaras summarised his speech in English: His party would honour commitments to the EU. It was a victory for all Europe. A call for all political parties that share objectives to form government. Sacrifices of Greek people will be reflected.

The opportunity for Greece to tell the Troika to "go to hell" is at hand, if only the political left can stop bickering long enough to form a coalition. Bailout Rejection Key Demand Alexis Tsipras (SYRIZA's leader) says he will use all three allotted days to do so. His key demand is a bailout rejection, which would mean a eurozone exit whether that is his intention or not. 

Inquiring minds scoff at the preposterous Financial Times headline a ‘Glimmer of hope’ for Greek coalition A coalition that last until 2014 before new elections will be nothing more than years more of useless torture. Here are a few snips from the Financial Times.

The Financial Times reports Greek right a hostage to its own failures. On June 17, Stathis Potamitis, managing partner at an Athens law firm, plans to break a promise he has kept since his participation in a 1970s clandestine student group that opposed Greece’s military dictatorship. He will vote for the right.