Greek elections a 'vote' for the euro

June 18, 2012

Nicholas Paphitis, Associated Press and Worldview

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Europe is still in big trouble despite Greek election results that lessen the likelihood of an imminent disaster. Victory by the conservative New Democracy, a party supporting Greece's bailout deal, opens the way for negotiations with international creditors on giving the country more time and room to fix its broken finances.

Additionally, European officials are signaling a willingness to talk and avoid a disastrous aid cutoff that could force Greece out of the euro. Greek election victor Antonis Samaras said he will continue efforts to build a broad coalition government, despite a refusal from the second-placed Syriza radical left party to join in.

The conservative New Democracy leader said he will seek to engage as many parties as possible in the power-sharing effort.

Samaras spoke after talks Monday with Syriza leader Alexis Tsipras. He said he would persist in his efforts because debt-crippled Greece is in "immediate" need of being governed. New Democracy came first in national elections Sunday, but without enough seats in Parliament to govern alone.

Monday on Worldview

Endy Zemenides, executive director of Hellenic-American Leadership Council explains why the Greek public voted to stick it out with the common currency.