BREAKING NEWS

Greece formally dissolves parliament ahead of election

By REUTERS

DECEMBER 31, 2014 13:33

ATHENS - Greece formally dissolved parliament on Wednesday ahead of a general election on January 25 that has cast its international bailout into doubt and set financial markets on edge just as the euro zone grapples with renewed signs of weakness.

The traditional decree calling new elections was posted on the door to parliament two days after lawmakers rejected Prime Minister Antonis Samaras' candidate for president, automatically triggering a return to the polls.

The January 25 vote will mark a showdown between Samaras' conservative New Democracy party, which imposed unpopular budget cuts under Greece's bailout deal, and the left-wing Syriza party of Alexis Tsipras, who wants to cancel austerity measures along with a chunk of Greek debt.

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