Reuters: Attempt to form Greece government fails after shock poll

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Attempt to form Greece government fails after shock poll
By Renee Maltezou and Lefteris Papadimas

ATHENS | Mon May 7, 2012 1:56pm EDT

(Reuters) - A first attempt to form a new Greek government collapsed in less than a day on Monday after a shock election which left gaping questions over the country's ability to avert bankruptcy and stay in the euro.

Greeks enraged by the terms of international bailouts which have cut wages, sent unemployment to one of the highest levels in Europe and caused a spate of suicides, deserted mainstream parties in droves in Sunday's poll, plunging their country into uncertainty.

Antonis Samaras, leader of the conservative New Democracy party which won the biggest share of the vote gave up trying to form a government on Monday night within hours of getting a mandate from President Karolos Papoulias.

His efforts were rebuffed by a string of anti-bailout parties who had benefited from the electoral earthquake which sent tremors across the euro zone.

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Since conservative ND was turned down by all possible coalition partners besides phony-left party PASOK, the task of forming a govt now passes to Syriza, the left of PASOK party. They have three days - or they could concede early like ND has. If Syriza can't patch enough seats together to form a government the ball is passed to PASOK.
If after a month has passed without any party being able to persuade enough other parties to form up a governing coalition there will be another round of elections.
Meanwhile, Greece will be running out of money at around the end of June.