Election may make Greek crisis even worse

Financial Post | Business

ATHENS, Greece — In a scruffy district of the Greek capital 200 metres from a heavily patronized soup kitchen and a 15-minute hike from the glorious Parthenon, a lone policeman guards the door at the headquarters of Syriza — which in English calls itself the Coalition of the Radical Left.

A much larger police presence may soon be required to prevent civil unrest across Greece, no matter which party wins Sunday’s election .

The ballot was required after a supposedly pivotal vote in early May only deepened the country’s political stalemate and economic paralysis, further scarring an already traumatized and despairing electorate.

The second vote, which is too close to call, is now regarded as a referendum on the country’s future in the troubled eurozone and on a tough economic memorandum — the hated mnimonio — that Greece signed with the European Union in return for additional bridging loans.


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