Du bleu dans les yeux - Skyros

Video by Hugo Duchesne

Crete. Balos bay

Crete. Balos bay

Greece Timelapse 2014

Video by Laurin Döpfner

Samaras to seek confidence vote in bid to rally coalition

The government said on Wednesday that it will request a vote of confidence when Parliament reconvenes after the summer recess next week, seeking to douse speculation about early elections and to rally coalition MPs and ministers as a crucial fifth review by the troika gets under way.

Government spokeswoman Sofia Voultepsi said the government would “immediately” seek a vote of confidence when Parliament’s plenary reopens on Monday, adding that the procedure of electing a new president would begin as scheduled in February, a month before the term of incumbent Karolos Papoulias ends.

The statement was clearly intended to halt speculation that early elections could be held in the coming months as leftist SYRIZA intensifies its demands for snap polls and a renegotiation of the country’s loan deal with international creditors.

Prime Minister Antonis Samaras is to request the vote of confidence on Monday, prompting a three-day debate which is likely to begin on Wednesday.

Kos 

Photo by Manos Vintzilaios

Kos

Photo by Manos Vintzilaios

Athens. Roman Agora
Photo by Alkis Konstantinidis

Athens. Roman Agora

Photo by Alkis Konstantinidis

Greece Rediscovers Ruthless Nature of Bond Investors

Greece is rediscovering how ruthless fixed-income investors can be.

The nation, whose market return in April embodied an easing of the euro-area debt crisis, saw its sovereign securities tumble 5.7 percent last quarter as the rest of the region’s bonds rallied. Behind the selloff: a growing concern the government’s proposal to become self-financing will leave the country’s budget controls in jeopardy.

Prime Minister Antonis Samaras is seeking to reduce reliance on Greece’s 240 billion-euro ($303 billion) bailout that’s based on loans accompanied by conditions for financial reform. While euro-area support expires this year, the International Monetary Fund is scheduled to continue disbursing aid until the first quarter of 2016.

“Greece’s plans to exit the bailout early have raised some concerns,” said Jan von Gerich, a fixed-income analyst at Nordea Bank AB in Helsinki. “I would not put Greece in a basket with other European government bonds as it’s a special case. It’s at a totally different yield level so the investor base is totally different.”

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